Principal Financial Group Inc. Sells 203,340 Shares of Novartis AG $NVS

Principal Financial Group Inc. decreased its stake in Novartis AG (NYSE:NVS) by 8.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,088,540 shares of the company’s stock after selling 203,340 shares during the period. Principal Financial Group Inc.’s holdings in Novartis were worth $267,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Novartis by 489.1% during the second quarter. Bank of Montreal Can now owns 564,990 shares of the company’s stock valued at $68,369,000 after buying an additional 469,080 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Novartis by 5.3% in the 2nd quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after acquiring an additional 358,282 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Novartis by 52.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 876,956 shares of the company’s stock worth $106,120,000 after purchasing an additional 303,553 shares in the last quarter. Midwest Trust Co bought a new stake in shares of Novartis during the second quarter valued at approximately $32,297,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Novartis by 63.0% in the second quarter. Ameriprise Financial Inc. now owns 631,131 shares of the company’s stock valued at $76,374,000 after purchasing an additional 244,037 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Cowen restated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research report on Friday, January 16th. Citigroup started coverage on Novartis in a report on Tuesday, January 27th. They set a “buy” rating on the stock. Cfra set a $126.00 target price on Novartis and gave the stock a “hold” rating in a report on Wednesday, October 29th. Finally, Cfra Research upgraded Novartis to a “hold” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $119.75.

Novartis Stock Down 0.1%

Shares of NYSE:NVS opened at $148.71 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The firm has a market cap of $314.13 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.94 and a beta of 0.50. Novartis AG has a 12 month low of $97.71 and a 12 month high of $152.48. The company’s 50-day moving average price is $138.39 and its two-hundred day moving average price is $129.69.

About Novartis

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.