Trust Co. of Toledo NA OH Has $1.89 Million Holdings in Novartis AG (NYSE:NVS)

Trust Co. of Toledo NA OH trimmed its position in shares of Novartis AG (NYSE:NVS) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,405 shares of the company’s stock after selling 248 shares during the period. Trust Co. of Toledo NA OH’s holdings in Novartis were worth $1,888,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. lifted its stake in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after acquiring an additional 95 shares in the last quarter. Centaurus Financial Inc. boosted its stake in shares of Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after buying an additional 98 shares during the last quarter. FLC Capital Advisors increased its position in shares of Novartis by 4.4% during the third quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after acquiring an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Novartis by 2.3% during the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares during the period. Finally, Allen Wealth Management LLC boosted its position in Novartis by 1.8% in the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after purchasing an additional 100 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NVS shares. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Performance

NVS stock traded down $0.18 during midday trading on Monday, reaching $98.90. 449,401 shares of the company’s stock traded hands, compared to its average volume of 1,251,550. The company has a 50-day moving average price of $101.55 and a two-hundred day moving average price of $109.29. The firm has a market capitalization of $202.15 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the prior year, the firm posted $1.74 earnings per share. As a group, equities analysts anticipate that Novartis AG will post 7.65 EPS for the current year.

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.