Whittier Trust Co. of Nevada Inc. Purchases 2,529 Shares of Novartis AG $NVS

Key Points

• Whittier Trust Co. of Nevada Inc. increased its holdings in Novartis AG by 10.4%, acquiring an additional 2,529 shares and bringing its total to 26,947 shares worth $3,261,000.
• Several institutional investors have significantly raised their stakes in Novartis, with Goldman Sachs increasing its share by 60.3% and New Vernon Capital Holdings growing its stake by an astonishing 12,664.1%.
• Despite recent increases in stake by investors, Novartis stock has dipped 0.4% and maintains a market capitalization of $277.34 billion with an average rating of "Hold" from analysts.

Whittier Trust Co. of Nevada Inc. raised its position in Novartis AG (NYSE:NVS - Free Report) by 10.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,947 shares of the company's stock after acquiring an additional 2,529 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Novartis were worth $3,261,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NVS. Goldman Sachs Group Inc. lifted its stake in Novartis by 60.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,660,485 shares of the company's stock valued at $408,071,000 after acquiring an additional 1,377,252 shares in the last quarter. New Vernon Capital Holdings II LLC grew its stake in shares of Novartis by 12,664.1% in the first quarter. New Vernon Capital Holdings II LLC now owns 1,383,244 shares of the company's stock valued at $154,204,000 after buying an additional 1,372,407 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Novartis by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,606,724 shares of the company's stock worth $959,535,000 after buying an additional 422,869 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in Novartis during the first quarter worth $24,763,000. Finally, Janney Montgomery Scott LLC increased its holdings in Novartis by 38.5% during the second quarter. Janney Montgomery Scott LLC now owns 310,389 shares of the company's stock worth $37,560,000 after buying an additional 86,351 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.4%

NVS stock opened at $131.29 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $277.34 billion, a PE ratio of 19.11, a PEG ratio of 1.84 and a beta of 0.64. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55. The business's 50 day simple moving average is $127.04 and its 200 day simple moving average is $118.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVS shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley upgraded shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Finally, The Goldman Sachs Group reissued a "sell" rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $120.33.

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.

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