Novartis AG (NYSE:NVS) Shares Bought by Truist Financial Corp

Truist Financial Corp increased its position in shares of Novartis AG (NYSE:NVS - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,655 shares of the company's stock after purchasing an additional 27,092 shares during the period. Truist Financial Corp's holdings in Novartis were worth $75,090,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Novartis during the third quarter worth approximately $28,000. Human Investing LLC acquired a new stake in shares of Novartis during the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA purchased a new stake in Novartis in the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its holdings in shares of Novartis by 503.8% in 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 during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Novartis during the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Price Performance

NYSE NVS traded up $2.11 during mid-day trading on Friday, hitting $109.42. The stock had a trading volume of 2,274,792 shares, compared to its average volume of 1,952,208. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $223.65 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.58. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a 50 day simple moving average of $101.24 and a 200 day simple moving average of $108.15.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Equities analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVS shares. BMO Capital Markets increased their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Morgan Stanley began coverage on Novartis in a report on Wednesday, February 12th. They set an "underweight" rating on the stock. Erste Group Bank reaffirmed a "hold" rating on shares of Novartis in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $123.38.

Novartis 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.