Texas Bank & Trust Co Decreases Stock Holdings in Novartis AG $NVS

Texas Bank & Trust Co reduced its holdings in Novartis AG (NYSE:NVS) by 6.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,203 shares of the company’s stock after selling 504 shares during the period. Texas Bank & Trust Co’s holdings in Novartis were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NVS. Essex Savings Bank lifted its holdings in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after acquiring an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in Novartis by 5.8% during the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after purchasing an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Novartis by 4.4% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after purchasing an additional 87 shares during the period. Forum Financial Management LP lifted its stake in shares of Novartis by 0.4% in the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock valued at $2,978,000 after purchasing an additional 88 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its holdings in shares of Novartis by 1.2% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after purchasing an additional 90 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NVS stock opened at $123.92 on Monday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The firm has a market cap of $261.77 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.93 and a beta of 0.64. The business’s fifty day simple moving average is $127.37 and its two-hundred day simple moving average is $120.28. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $13.91 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 earnings per share. Analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Ratings Changes

NVS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Novartis in a research report on Friday. Cfra set a $126.00 target price on shares of Novartis and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley raised shares of Novartis from an “equal weight” rating to an “overweight” rating in a research note on Friday. Finally, Cfra Research upgraded shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $122.33.

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.