JPMorgan Chase & Co. Has $56.04 Million Stock Position in Novartis AG (NYSE:NVS)

JPMorgan Chase & Co. increased its position in Novartis AG (NYSE:NVSGet Rating) by 203.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 662,995 shares of the company’s stock after purchasing an additional 444,401 shares during the quarter. JPMorgan Chase & Co.’s holdings in Novartis were worth $56,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVS. TCI Wealth Advisors Inc. boosted its holdings in Novartis by 200.0% during the second quarter. TCI Wealth Advisors Inc. now owns 300 shares of the company’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Bogart Wealth LLC boosted its holdings in Novartis by 168.8% during the second quarter. Bogart Wealth LLC now owns 414 shares of the company’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Herold Advisors Inc. bought a new position in Novartis during the first quarter worth about $43,000. Curi Wealth Management LLC bought a new position in Novartis during the second quarter worth about $46,000. Finally, Crewe Advisors LLC boosted its holdings in Novartis by 44.2% during the second quarter. Crewe Advisors LLC now owns 662 shares of the company’s stock worth $56,000 after buying an additional 203 shares during the last quarter. Institutional investors own 9.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVS. Morgan Stanley reduced their target price on Novartis from CHF 97 to CHF 88 in a report on Thursday, September 8th. Kepler Capital Markets upgraded Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price objective on the stock in a report on Wednesday, September 7th. StockNews.com started coverage on Novartis in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Oddo Bhf cut Novartis from an “outperform” rating to a “neutral” rating and set a CHF 88 price objective on the stock. in a report on Thursday, September 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Novartis from CHF 75 to CHF 70 and set a “sell” rating on the stock in a report on Friday, October 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.45.

Novartis Stock Down 0.5 %

Shares of Novartis stock opened at $87.29 on Friday. The firm has a market cap of $193.14 billion, a PE ratio of 8.97, a P/E/G ratio of 2.55 and a beta of 0.55. Novartis AG has a 52-week low of $74.09 and a 52-week high of $94.26. The business’s 50 day simple moving average is $79.64 and its 200 day simple moving average is $83.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 1.31.

Novartis Company Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

See Also

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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