Truist Financial Corp Raises Position in Novartis AG (NYSE:NVS)

Truist Financial Corp increased its holdings in shares of Novartis AG (NYSE:NVS) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 771,655 shares of the company’s stock after buying an additional 27,092 shares during the quarter. Truist Financial Corp’s holdings in Novartis were worth $75,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Human Investing LLC purchased a new position in shares of Novartis in the 4th quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis in the fourth quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the third quarter worth $28,000. Fortitude Family Office LLC grew its holdings in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Novartis in the 4th quarter valued at $55,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on NVS shares. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. UBS Group restated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Price Performance

Shares of NYSE NVS opened at $105.43 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 1.04. The firm has a market cap of $215.50 billion, a PE ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.58. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The firm has a fifty day moving average of $100.70 and a 200 day moving average of $108.25.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, research analysts predict that Novartis AG will post 8.42 EPS for the current fiscal year.

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.