Texas Bank & Trust Co Sells 504 Shares of Novartis AG $NVS

Texas Bank & Trust Co trimmed its position in Novartis AG (NYSE:NVS) by 6.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,203 shares of the company’s stock after selling 504 shares during the quarter. Texas Bank & Trust Co’s holdings in Novartis were worth $872,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVS. Essex Savings Bank lifted its stake in Novartis by 1.9% in the second quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after acquiring an additional 85 shares during the period. Physician Wealth Advisors Inc. raised its holdings in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after purchasing an additional 85 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after purchasing an additional 87 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Novartis by 0.4% in the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after purchasing an additional 88 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of Novartis by 1.2% during the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock valued at $938,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 1.1%

Shares of NYSE:NVS opened at $123.92 on Monday. The business’s 50-day moving average is $127.37 and its 200 day moving average is $120.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The firm has a market capitalization of $261.77 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.93 and a beta of 0.64.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The business had revenue of $13.91 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the previous year, the firm posted $2.06 EPS. Novartis’s revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Cfra set a $126.00 price objective on Novartis and gave the stock a “hold” rating in a research note on Wednesday. HC Wainwright downgraded Novartis to a “neutral” rating in a research report on Monday, October 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a report on Monday, October 27th. Finally, Cfra Research upgraded shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $122.33.

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.