Wilkins Investment Counsel Inc. Has $16.65 Million Stock Holdings in Novartis AG (NYSE:NVS)

Key Points

• Wilkins Investment Counsel Inc. has reduced its holdings in Novartis AG by 10.5%, owning 149,315 shares worth approximately $16.65 million, making it the fund's 13th largest position.
• Novartis reported earnings of $2.42 per share for the last quarter, exceeding analysts' expectations, and achieved a revenue of $14.05 billion, reflecting a 12.3% year-over-year increase.
• The stock is currently rated as a "Hold" by analysts, with an average price target of $123.67, and recently received a "strong-buy" rating from BNP Paribas.

Wilkins Investment Counsel Inc. reduced its stake in Novartis AG (NYSE:NVS - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,315 shares of the company's stock after selling 17,467 shares during the period. Novartis accounts for approximately 2.4% of Wilkins Investment Counsel Inc.'s investment portfolio, making the stock its 13th biggest position. Wilkins Investment Counsel Inc.'s holdings in Novartis were worth $16,646,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raiffeisen Bank International AG bought a new position in Novartis in the 4th quarter valued at about $25,000. Nexus Investment Management ULC acquired a new stake in shares of Novartis during the 1st quarter worth approximately $25,000. Tsfg LLC boosted its position in shares of Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after acquiring an additional 183 shares in the last quarter. Park Square Financial Group LLC bought a new position in Novartis in the fourth quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management acquired a new position in Novartis during the first quarter valued at approximately $33,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 0.5%

Shares of NYSE:NVS opened at $117.41 on Friday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $124.83. The company has a market capitalization of $248.02 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a fifty day moving average of $117.43 and a 200-day moving average of $110.96.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. The business had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 EPS. On average, equities analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BNP Paribas raised Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $123.67.

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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