AMG National Trust Bank Has $2.64 Million Stock Position in Novartis AG (NYSE:NVS)

AMG National Trust Bank decreased its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 22.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,991 shares of the company's stock after selling 6,496 shares during the period. AMG National Trust Bank's holdings in Novartis were worth $2,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in Novartis by 1.3% in the second quarter. Raymond James & Associates now owns 536,607 shares of the company's stock worth $57,127,000 after purchasing an additional 6,767 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Novartis in the 2nd quarter valued at $15,044,000. Integral Health Asset Management LLC grew its stake in shares of Novartis by 33.3% during the second quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company's stock worth $31,938,000 after purchasing an additional 75,000 shares during the period. Granite Bay Wealth Management LLC bought a new stake in Novartis in the second quarter valued at about $854,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Novartis by 115.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company's stock worth $26,797,000 after buying an additional 124,111 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Up 0.0 %

Shares of Novartis stock traded up $0.05 on Tuesday, reaching $103.09. 859,557 shares of the company were exchanged, compared to its average volume of 1,341,413. The company has a market capitalization of $210.72 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.49 and a beta of 0.58. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a 50-day moving average of $112.86 and a 200 day moving average of $110.05.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period in the previous year, the business earned $1.74 EPS. On average, equities research analysts forecast that Novartis AG will post 7.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the topic of several recent analyst reports. Bank of America cut Novartis from a "buy" rating to a "neutral" rating and cut their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Erste Group Bank reissued a "hold" rating on shares of Novartis in a research note on Tuesday. Jefferies Financial Group cut Novartis from a "buy" rating to a "hold" rating in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their target price 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, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $121.50.

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.