Midwest Trust Co Has $32.36 Million Holdings in Novartis AG $NVS

Midwest Trust Co lessened its position in shares of Novartis AG (NYSE:NVS) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,352 shares of the company’s stock after selling 14,541 shares during the period. Midwest Trust Co’s holdings in Novartis were worth $32,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Novartis in the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. bought a new position in shares of Novartis during the 3rd quarter worth approximately $31,000. Quaker Wealth Management LLC grew its stake in shares of Novartis by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 352 shares of the company’s stock worth $43,000 after acquiring an additional 704 shares in the last quarter. Country Trust Bank raised its holdings in shares of Novartis by 47.4% in the third quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after purchasing an additional 110 shares during the last quarter. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Novartis in the second quarter worth $53,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 0.3%

Shares of NVS stock opened at $156.94 on Tuesday. The company has a market capitalization of $331.52 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 2.35 and a beta of 0.50. The firm has a 50 day moving average price of $141.28 and a two-hundred day moving average price of $131.28. The company has a quick ratio of 0.89, a current ratio of 1.12 and a debt-to-equity ratio of 0.60. Novartis AG has a 12-month low of $97.71 and a 12-month high of $157.57.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $524.00 million for the quarter, compared to analyst estimates of $13.85 billion. Novartis had a return on equity of 40.53% and a net margin of 25.65%.The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. As a group, analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, March 11th will be given a $4.773 dividend. This represents a dividend yield of 312.0%. The ex-dividend date is Wednesday, March 11th. Novartis’s payout ratio is presently 36.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVS. TD Cowen reaffirmed a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Friday, January 16th. Bank of America upgraded Novartis from a “neutral” rating to a “buy” rating in a report on Tuesday, November 25th. Finally, HSBC reissued a “reduce” rating and set a $112.00 price target on shares of Novartis in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $119.75.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.