23,246 Shares in Novartis AG (NYSE:NVS) Acquired by Arvest Bank Trust Division

Arvest Bank Trust Division acquired a new stake in Novartis AG (NYSE:NVS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,246 shares of the company's stock, valued at approximately $2,674,000.

A number of other hedge funds have also modified their holdings of the business. World Investment Advisors LLC acquired a new stake in Novartis during the 3rd quarter worth $3,873,000. Sanctuary Advisors LLC boosted its stake in shares of Novartis by 14.9% during the third quarter. Sanctuary Advisors LLC now owns 93,276 shares of the company's stock worth $10,729,000 after buying an additional 12,118 shares during the period. Tri Ri Asset Management Corp purchased a new position in shares of Novartis during the third quarter worth about $3,819,000. Virtu Financial LLC acquired a new position in Novartis in the 3rd quarter valued at about $427,000. Finally, TD Private Client Wealth LLC raised its stake in Novartis by 40.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 12,446 shares of the company's stock valued at $1,432,000 after acquiring an additional 3,596 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NYSE NVS traded down $0.58 during midday trading on Thursday, hitting $98.60. The company had a trading volume of 1,054,112 shares, compared to its average volume of 1,327,593. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $108.56 and a two-hundred day simple moving average of $110.22. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The firm has a market capitalization of $201.53 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the company earned $1.74 EPS. Equities research analysts anticipate that Novartis AG will post 7.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVS. The Goldman Sachs Group reissued a "neutral" rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Erste Group Bank reissued a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. Finally, Jefferies Financial Group lowered Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $121.50.

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.