First Citizens Bank & Trust Co. Acquires 706 Shares of Novartis AG (NYSE:NVS)

First Citizens Bank & Trust Co. raised its holdings in shares of Novartis AG (NYSE:NVS) by 35.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,684 shares of the company’s stock after purchasing an additional 706 shares during the period. First Citizens Bank & Trust Co.’s holdings in Novartis were worth $261,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in Novartis during the 3rd quarter valued at approximately $28,000. Fortitude Family Office LLC increased its holdings in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares in the last quarter. Clean Yield Group bought a new position in Novartis in the 3rd quarter worth about $43,000. Brooklyn Investment Group bought a new position in Novartis in the 4th quarter worth about $55,000. Finally, Beaird Harris Wealth Management LLC grew its position in Novartis by 280.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after purchasing an additional 519 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

NYSE NVS opened at $101.85 on Wednesday. The stock has a market capitalization of $208.19 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.42 and a beta of 0.57. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The business’s fifty day moving average price is $100.10 and its 200-day moving average price is $108.64.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the firm posted $1.74 earnings per share. On average, equities analysts predict that Novartis AG will post 7.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the topic of several analyst reports. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.38.

About Novartis

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.