Franklin Parlapiano Turner & Welch LLC Cuts Stock Position in Novartis AG (NYSE:NVS)

Franklin Parlapiano Turner & Welch LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,244 shares of the company’s stock after selling 233 shares during the period. Novartis comprises about 2.2% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 16th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Novartis were worth $8,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Novartis by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after acquiring an additional 1,389,610 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Novartis by 191.1% during the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after purchasing an additional 1,250,318 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Novartis in the second quarter worth about $64,610,000. Finally, Mondrian Investment Partners LTD boosted its stake in Novartis by 40.1% during the first quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after buying an additional 590,830 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.2 %

Shares of NYSE:NVS opened at $114.06 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The business has a 50 day simple moving average of $116.44 and a two-hundred day simple moving average of $108.39. Novartis AG has a 1 year low of $92.19 and a 1 year high of $120.92. The firm has a market capitalization of $233.14 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $120.70.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.