M&T Bank Corp Has $15.48 Million Holdings in Novartis AG (NYSE:NVS)

M&T Bank Corp reduced its holdings in Novartis AG (NYSE:NVS) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,106 shares of the company’s stock after selling 1,960 shares during the quarter. M&T Bank Corp’s holdings in Novartis were worth $15,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter worth approximately $28,000. Human Investing LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC bought a new position in Novartis in the 4th quarter worth approximately $47,000. Finally, Brooklyn Investment Group bought a new position in Novartis in the 4th quarter worth approximately $55,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating for the company. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

Shares of Novartis stock opened at $111.85 on Thursday. The firm has a fifty day moving average of $103.38 and a two-hundred day moving average of $107.98. The stock has a market capitalization of $228.62 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, equities research analysts predict that Novartis AG will post 8.45 EPS for the current year.

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.