Hickory Asset Management Inc. Invests $349,000 in Novartis AG (NYSE:NVS)

Hickory Asset Management Inc. acquired a new position in shares of Novartis AG (NYSE:NVS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,582 shares of the company's stock, valued at approximately $349,000.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novartis by 128.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company's stock valued at $51,554,000 after purchasing an additional 296,890 shares during the last quarter. World Investment Advisors LLC bought a new position in Novartis during the third quarter valued at about $30,063,000. Fisher Asset Management LLC increased its holdings in Novartis by 15.7% during the third 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 during the last quarter. Mediolanum International Funds Ltd bought a new stake in Novartis in the third quarter worth about $24,096,000. Finally, ABC Arbitrage SA purchased a new position in Novartis in the fourth quarter valued at about $19,795,000. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

NVS traded up $0.20 during trading on Wednesday, reaching $106.81. 486,886 shares of the company were exchanged, compared to its average volume of 1,919,267. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $218.32 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.68 and a beta of 0.58. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company's 50-day moving average is $100.91 and its two-hundred day moving average is $108.16.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly 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%. Research analysts forecast that Novartis AG will post 8.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVS. Morgan Stanley began coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an "underweight" rating for the company. Erste Group Bank restated a "hold" rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Finally, HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $123.38.

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.