Busey Bank Has $328,000 Holdings in Novartis AG (NYSE:NVS)

Busey Bank lessened its holdings in shares of Novartis AG (NYSE:NVS) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,856 shares of the company’s stock after selling 861 shares during the period. Busey Bank’s holdings in Novartis were worth $328,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Private Ocean LLC acquired a new position in shares of Novartis during the first quarter worth $25,000. New Millennium Group LLC acquired a new position in shares of Novartis during the second quarter worth $28,000. Clearstead Trust LLC lifted its holdings in shares of Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares during the period. Lynx Investment Advisory acquired a new position in shares of Novartis during the second quarter worth $29,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Novartis during the second quarter worth $30,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 0.6 %

NVS opened at $113.80 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $116.44 and a two-hundred day moving average price of $108.42. The company has a market cap of $232.61 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.70.

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.