Agate Pass Investment Management LLC purchased a new position in Novartis AG (NYSE:NVS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,215 shares of the company's stock, valued at approximately $702,000.
Other large investors have also made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Novartis by 1.3% in the second quarter. Rhumbline Advisers now owns 37,810 shares of the company's stock worth $4,025,000 after acquiring an additional 499 shares during the last quarter. LPL Financial LLC lifted its position in shares of Novartis by 11.4% during the second quarter. LPL Financial LLC now owns 402,094 shares of the company's stock worth $42,807,000 after purchasing an additional 41,046 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Novartis by 5.7% in the second quarter. Oppenheimer & Co. Inc. now owns 32,706 shares of the company's stock valued at $3,482,000 after buying an additional 1,768 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Novartis by 6.1% during the second quarter. HBK Sorce Advisory LLC now owns 2,521 shares of the company's stock valued at $268,000 after buying an additional 144 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Novartis by 7.4% during the second quarter. Parallel Advisors LLC now owns 12,946 shares of the company's stock worth $1,378,000 after purchasing an additional 896 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on NVS shares. BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. HSBC lowered shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank restated a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $121.50.
Check Out Our Latest Stock Analysis on Novartis
Novartis Trading Up 0.1 %
NYSE:NVS traded up $0.12 during mid-day trading on Monday, hitting $99.20. The company had a trading volume of 1,467,207 shares, compared to its average volume of 1,416,144. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm has a market cap of $202.76 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.49 and a beta of 0.57. The business's fifty day moving average is $101.55 and its two-hundred day moving average is $109.29.
Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter last year, the firm earned $1.74 EPS. As a group, research analysts expect that Novartis AG will post 7.65 earnings per share for the current year.
Novartis Company Profile
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Free Report)
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.
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