Griffin Asset Management Inc. lifted its position in Novartis AG (NYSE:NVS) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,064 shares of the company’s stock after buying an additional 745 shares during the quarter. Griffin Asset Management Inc.’s holdings in Novartis were worth $5,242,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in shares of Novartis by 5.6% in the third quarter. Janney Montgomery Scott LLC now owns 164,549 shares of the company’s stock valued at $14,127,000 after buying an additional 8,720 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Novartis in the third quarter valued at $486,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Novartis by 3.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 78,518 shares of the company’s stock valued at $6,741,000 after buying an additional 2,283 shares in the last quarter. Kemper Corp Master Retirement Trust grew its stake in shares of Novartis by 14.3% in the third quarter. Kemper Corp Master Retirement Trust now owns 28,000 shares of the company’s stock valued at $2,403,000 after buying an additional 3,500 shares in the last quarter. Finally, Cedar Hill Associates LLC bought a new position in shares of Novartis in the third quarter valued at $248,000. 10.87% of the stock is owned by institutional investors and hedge funds.

Shares of Novartis AG (NYSE:NVS) traded down $0.16 during trading on Tuesday, reaching $83.80. The company’s stock had a trading volume of 1,126,400 shares, compared to its average volume of 2,259,253. Novartis AG has a fifty-two week low of $69.01 and a fifty-two week high of $86.90. The firm has a market cap of $198,615.36, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. sell-side analysts expect that Novartis AG will post 4.75 EPS for the current year.

Several research firms recently weighed in on NVS. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, September 19th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis in a research note on Tuesday, October 24th. Barclays cut shares of Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. BidaskClub raised Novartis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Bank of America downgraded Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $85.32.

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About Novartis

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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