Glenmede Trust Co. NA Acquires 8,680 Shares of Novartis AG $NVS

Key Points

• Glenmede Trust increased its Novartis stake by 16% in the first quarter, purchasing 8,680 additional shares and bringing its total holdings to 63,066 shares valued at approximately $9.6 million.
• Institutional investors own 13.12% of Novartis, while the stock recently traded at $153.71, with a 52-week range of $113.48 to $170.46 and a market capitalization of $293.31 billion.
• Novartis reported quarterly earnings of $2.41 per share on $14.95 billion in revenue. Analysts’ consensus rating is “Hold,” with an average price target of $141.20, despite recent “Buy” reiterations from Citigroup and Weiss Ratings.

Glenmede Trust Co. NA raised its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 16.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,066 shares of the company's stock after buying an additional 8,680 shares during the period. Glenmede Trust Co. NA's holdings in Novartis were worth $9,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. J.W. Cole Advisors Inc. increased its stake in shares of Novartis by 0.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 10,577 shares of the company's stock worth $1,348,000 after purchasing an additional 64 shares in the last quarter. Roundview Capital LLC lifted its position in Novartis by 2.5% during the fourth quarter. Roundview Capital LLC now owns 2,711 shares of the company's stock valued at $374,000 after purchasing an additional 66 shares in the last quarter. IMA Advisory Services Inc. lifted its position in Novartis by 10.9% during the fourth quarter. IMA Advisory Services Inc. now owns 710 shares of the company's stock valued at $98,000 after purchasing an additional 70 shares in the last quarter. Abundance Wealth Counselors grew its holdings in Novartis by 0.4% during the fourth quarter. Abundance Wealth Counselors now owns 16,927 shares of the company's stock valued at $2,334,000 after purchasing an additional 73 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC increased its position in Novartis by 3.5% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 2,230 shares of the company's stock worth $307,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Price Performance

NYSE:NVS opened at $153.71 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The business's 50-day simple moving average is $152.69 and its two-hundred day simple moving average is $152.88. The stock has a market cap of $293.31 billion, a PE ratio of 23.18, a P/E/G ratio of 2.67 and a beta of 0.45. Novartis AG has a 52 week low of $113.48 and a 52 week high of $170.46.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. The firm had revenue of $14.95 billion during the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. As a group, analysts forecast that Novartis AG will post 8.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a research note on Friday, July 24th. Citigroup reiterated a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Novartis presently has an average rating of "Hold" and an average price target of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

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