Allworth Financial LP Buys 91,866 Shares of Novartis AG (NYSE:NVS)

Allworth Financial LP grew its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 2,354.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,768 shares of the company's stock after buying an additional 91,866 shares during the period. Allworth Financial LP's holdings in Novartis were worth $9,402,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in shares of Novartis by 15.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company's stock worth $196,225,000 after buying an additional 231,851 shares in the last quarter. FMR LLC grew its position in Novartis by 5.5% in the 3rd quarter. FMR LLC now owns 1,353,412 shares of the company's stock valued at $155,669,000 after purchasing an additional 70,314 shares during the period. Chevy Chase Trust Holdings LLC grew its position in Novartis by 4.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company's stock valued at $112,990,000 after purchasing an additional 52,044 shares during the period. Natixis Advisors LLC grew its position in Novartis by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 938,844 shares of the company's stock valued at $107,986,000 after purchasing an additional 26,317 shares during the period. Finally, Bank of Montreal Can grew its position in Novartis by 18.7% in the 3rd quarter. Bank of Montreal Can now owns 780,980 shares of the company's stock valued at $90,289,000 after purchasing an additional 123,077 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

NVS traded up $0.35 during midday trading on Thursday, hitting $107.26. The stock had a trading volume of 1,885,846 shares, compared to its average volume of 1,942,435. The company has a market cap of $219.23 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The business has a fifty day moving average of $101.06 and a 200 day moving average of $108.15. 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 AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on NVS. HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a research report on Wednesday, December 4th. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an "underweight" rating for the company. StockNews.com raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Erste Group Bank reaffirmed a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Novartis currently has a consensus rating of "Hold" and a consensus 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.