Smithbridge Asset Management Inc. DE Acquires 819 Shares of Novartis AG (NYSE:NVS)

Smithbridge Asset Management Inc. DE lifted its stake in shares of Novartis AG (NYSE:NVS) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,049 shares of the company’s stock after buying an additional 819 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Novartis were worth $5,412,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVS. Clearstead Trust LLC grew its position in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the last quarter. New Millennium Group LLC bought a new position in Novartis in the second quarter worth approximately $28,000. Lynx Investment Advisory acquired a new position in Novartis during the second quarter worth $29,000. Industrial Alliance Investment Management Inc. bought a new position in Novartis in the 2nd quarter valued at about $30,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Novartis in the second quarter valued at approximately $30,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on NVS. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis Price Performance

Shares of Novartis stock opened at $114.39 on Monday. The business has a 50 day moving average of $116.42 and a 200 day moving average of $108.74. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The company has a market cap of $233.81 billion, a PE ratio of 14.42, a P/E/G ratio of 1.65 and a beta of 0.57.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.