First Hawaiian Bank lessened its stake in Novartis AG (NYSE:NVS – Free Report) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,081 shares of the company’s stock after selling 6,762 shares during the quarter. First Hawaiian Bank’s holdings in Novartis were worth $2,733,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in NVS. BlackRock Inc. increased its holdings in shares of Novartis by 18.3% in the 1st quarter. BlackRock Inc. now owns 1,556,539 shares of the company’s stock valued at $136,587,000 after purchasing an additional 240,710 shares in the last quarter. Dakota Wealth Management increased its holdings in Novartis by 3.9% during the 1st quarter. Dakota Wealth Management now owns 4,869 shares of the company’s stock valued at $427,000 after acquiring an additional 185 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Novartis by 42.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,996 shares of the company’s stock worth $965,000 after purchasing an additional 3,272 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Novartis by 4.5% during the 1st quarter. Baird Financial Group Inc. now owns 95,477 shares of the company’s stock worth $8,379,000 after purchasing an additional 4,122 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in shares of Novartis by 22.8% during the 1st quarter. Zions Bancorporation N.A. now owns 3,528 shares of the company’s stock worth $309,000 after purchasing an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 7.00% of the company’s stock.
Novartis Trading Up 1.0 %
Shares of NVS stock opened at $101.83 on Friday. The stock has a market cap of $215.84 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. The firm’s 50 day moving average price is $101.55 and its two-hundred day moving average price is $97.82. Novartis AG has a fifty-two week low of $74.09 and a fifty-two week high of $105.61. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 0.35.
Wall Street Analyst Weigh In
NVS has been the topic of several analyst reports. StockNews.com started coverage on shares of Novartis in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. HSBC started coverage on shares of Novartis in a research report on Friday, July 14th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.
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