PNC Financial Services Group Inc. Grows Stock Holdings in Novartis AG $NVS

Key Points

• PNC Financial Services Group boosted its Novartis stake by 4.7% in the first quarter, adding 9,930 shares to reach 220,134 shares valued at about $33.6 million.
• Novartis reported Q2 earnings of $2.41 per share on revenue of $14.95 billion, with strong profitability metrics including a 38.56% return on equity and a 23.29% net margin.
• Analyst sentiment is mixed: while firms like Citigroup and Morgan Stanley remain positive, MarketBeat shows a broader consensus rating of Hold with a price target of $141.20.

PNC Financial Services Group Inc. increased its holdings in Novartis AG (NYSE:NVS - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,134 shares of the company's stock after purchasing an additional 9,930 shares during the period. PNC Financial Services Group Inc.'s holdings in Novartis were worth $33,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Archer Investment Corp increased its stake in Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Novartis during the fourth quarter valued at approximately $25,000. CrossGen Wealth LLC bought a new position in Novartis in the 4th quarter valued at $28,000. Bank of Jackson Hole Trust lifted its holdings in Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock valued at $32,000 after buying an additional 187 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC bought a new position in Novartis in the fourth quarter worth approximately $34,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NYSE NVS opened at $156.32 on Friday. Novartis AG has a fifty-two week low of $112.34 and a fifty-two week high of $170.46. The firm has a market capitalization of $298.29 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 2.65 and a beta of 0.45. The stock's fifty day moving average is $151.81 and its two-hundred day moving average is $152.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.65 and a current ratio of 0.86.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The company had revenue of $14.95 billion for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. On average, research analysts anticipate that Novartis AG will post 8.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citigroup reissued a "buy" rating on shares of Novartis in a research report on Wednesday. Weiss Ratings lowered shares of Novartis from a "buy (a-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley raised their target price on Novartis from $143.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, March 26th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.20.

Novartis Profile

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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