Novartis AG $NVS Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its stake in shares of Novartis AG (NYSE:NVS) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,180 shares of the company’s stock after purchasing an additional 151 shares during the period. First Citizens Bank & Trust Co.’s holdings in Novartis were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. WPG Advisers LLC acquired a new position in Novartis during the first quarter worth approximately $25,000. Tsfg LLC increased its position in Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company’s stock worth $26,000 after purchasing an additional 183 shares during the last quarter. GFG Capital LLC purchased a new stake in Novartis during the second quarter worth approximately $26,000. Barrett & Company Inc. purchased a new stake in Novartis during the second quarter worth approximately $31,000. Finally, MCF Advisors LLC grew its stake in Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS stock opened at $130.48 on Monday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. 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 company has a market capitalization of $275.64 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64. The firm has a fifty day simple moving average of $127.56 and a 200-day simple moving average of $119.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price objective (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Morgan Stanley upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. One 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 company currently has an average rating of “Hold” and a consensus price target of $120.33.

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.