ABC Arbitrage SA Takes Position in Novartis AG (NYSE:NVS)

ABC Arbitrage SA purchased a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 203,424 shares of the company's stock, valued at approximately $19,795,000. Novartis makes up 2.8% of ABC Arbitrage SA's portfolio, making the stock its 10th largest position.

Several other large investors have also recently bought and sold shares of NVS. Union Bancaire Privee UBP SA purchased a new position in Novartis during the 4th quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the third quarter worth about $28,000. Fortitude Family Office LLC grew its holdings in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company's stock worth $37,000 after buying an additional 267 shares during the last quarter. Brooklyn Investment Group acquired a new position in Novartis in the 4th quarter valued at about $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in Novartis during the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Trading Up 0.4 %

Shares of NVS traded up $0.45 during mid-day trading on Wednesday, hitting $107.06. The company had a trading volume of 1,255,358 shares, compared to its average volume of 1,944,202. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The business's 50-day simple moving average is $100.91 and its 200-day simple moving average is $108.16. The stock has a market cap of $218.82 billion, a PE ratio of 18.21, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts forecast that Novartis AG will post 8.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. HSBC cut shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. UBS Group reissued a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Finally, BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $123.38.

Novartis Profile

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.