Atlantic Union Bankshares Corp Has $1.70 Million Stock Holdings in Novartis AG (NYSE:NVS)

Atlantic Union Bankshares Corp decreased its position in Novartis AG (NYSE:NVS) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,503 shares of the company’s stock after selling 208 shares during the period. Atlantic Union Bankshares Corp’s holdings in Novartis were worth $1,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVS. Concurrent Investment Advisors LLC raised its holdings in Novartis by 11.8% during the third quarter. Concurrent Investment Advisors LLC now owns 3,734 shares of the company’s stock worth $429,000 after buying an additional 393 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of Novartis by 45.8% in the 3rd quarter. Portside Wealth Group LLC now owns 4,375 shares of the company’s stock worth $503,000 after purchasing an additional 1,375 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Novartis during the 3rd quarter worth $2,953,000. Equitable Trust Co. purchased a new stake in Novartis during the third quarter valued at about $229,000. Finally, SpiderRock Advisors LLC bought a new position in Novartis in the 3rd quarter worth approximately $1,291,000. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVS. Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.38.

Novartis Trading Up 2.4 %

Shares of Novartis stock opened at $115.60 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The business has a 50-day moving average price of $104.02 and a 200-day moving average price of $107.95. The firm has a market cap of $236.29 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Company 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.