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

JPMorgan Chase & Co. lifted its holdings in shares of Novartis AG (NYSE:NVSGet Rating) by 203.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 662,995 shares of the company’s stock after acquiring an additional 444,401 shares during the period. JPMorgan Chase & Co.’s holdings in Novartis were worth $56,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. River Wealth Advisors LLC raised its holdings in shares of Novartis by 5.2% during the 2nd quarter. River Wealth Advisors LLC now owns 2,453 shares of the company’s stock worth $207,000 after buying an additional 122 shares in the last quarter. Rossmore Private Capital raised its holdings in shares of Novartis by 2.1% during the 1st quarter. Rossmore Private Capital now owns 6,220 shares of the company’s stock worth $546,000 after buying an additional 125 shares in the last quarter. Trust Co. of Oklahoma increased its holdings in Novartis by 1.0% in the 1st quarter. Trust Co. of Oklahoma now owns 12,481 shares of the company’s stock worth $1,095,000 after purchasing an additional 125 shares in the last quarter. Glassman Wealth Services increased its holdings in Novartis by 12.6% in the 2nd quarter. Glassman Wealth Services now owns 1,128 shares of the company’s stock worth $95,000 after purchasing an additional 126 shares in the last quarter. Finally, Wade G W & Inc. increased its holdings in Novartis by 1.0% in the 1st quarter. Wade G W & Inc. now owns 13,110 shares of the company’s stock worth $1,150,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 9.14% of the company’s stock.

Novartis Stock Down 0.5 %

Shares of Novartis stock opened at $87.29 on Friday. Novartis AG has a one year low of $74.09 and a one year high of $94.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 1.07. The stock’s 50-day moving average is $79.64 and its 200 day moving average is $83.10. The firm has a market cap of $193.14 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 2.55 and a beta of 0.55.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of recent research reports. Barclays lowered their target price on Novartis from CHF 85 to CHF 75 in a report on Friday, October 14th. Morgan Stanley lowered their target price on Novartis from CHF 97 to CHF 88 in a report on Thursday, September 8th. Kepler Capital Markets raised Novartis from a “hold” rating to a “buy” rating and set a CHF 90 target price for the company in a report on Wednesday, September 7th. Credit Suisse Group cut Novartis from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 15th. Finally, Oddo Bhf cut Novartis from an “outperform” rating to a “neutral” rating and set a CHF 88 price target for the company. in a research note on Thursday, September 29th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.45.

Novartis 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

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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