Rockefeller Capital Management L.P. Acquires 5,526 Shares of Novartis AG $NVS

Rockefeller Capital Management L.P. lifted its holdings in Novartis AG (NYSE:NVS) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,205 shares of the company’s stock after purchasing an additional 5,526 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Novartis were worth $14,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVS. Morgan Stanley increased its holdings in Novartis by 14.9% in the 4th quarter. Morgan Stanley now owns 8,876,906 shares of the company’s stock worth $1,223,860,000 after buying an additional 1,148,033 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Novartis by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 7,465,850 shares of the company’s stock valued at $1,029,317,000 after acquiring an additional 226,484 shares during the period. Auto Owners Insurance Co lifted its stake in Novartis by 13,687.0% during the 4th quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock valued at $638,103,000 after acquiring an additional 4,594,726 shares during the period. Bank of America Corp DE boosted its holdings in shares of Novartis by 1.7% during the 3rd quarter. Bank of America Corp DE now owns 4,605,878 shares of the company’s stock valued at $590,658,000 after acquiring an additional 78,390 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Novartis by 10.3% during the 4th quarter. Franklin Resources Inc. now owns 4,479,307 shares of the company’s stock valued at $617,562,000 after acquiring an additional 419,988 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NVS shares. Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Morgan Stanley raised their target price on shares of Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a research report on Thursday, March 19th. Finally, Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Wednesday, March 11th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Novartis has a consensus rating of “Hold” and an average target price of $141.20.

Novartis Trading Up 3.0%

Novartis stock opened at $153.42 on Wednesday. Novartis AG has a 52-week low of $112.34 and a 52-week high of $170.46. The company has a market cap of $292.75 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.62 and a beta of 0.46. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $148.97 and a two-hundred day simple moving average of $149.16.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.12). The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. Novartis had a return on equity of 38.82% and a net margin of 24.87%.Novartis’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.28 EPS. Analysts predict that Novartis AG will post 8.82 EPS for the current year.

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.