Avidian Wealth Enterprises LLC Has $910,000 Stock Holdings in Novartis AG (NYSE:NVS)

Avidian Wealth Enterprises LLC lifted its position in Novartis AG (NYSE:NVS) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,913 shares of the company’s stock after buying an additional 102 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Novartis were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NVS. Dimensional Fund Advisors LP lifted its position in Novartis by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after acquiring an additional 1,389,610 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Novartis by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after purchasing an additional 16,015 shares during the period. Mondrian Investment Partners LTD grew its holdings in Novartis by 40.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after buying an additional 590,830 shares during the last quarter. Magnetar Financial LLC increased its position in Novartis by 53.7% in the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after buying an additional 666,104 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Novartis by 191.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after buying an additional 1,250,318 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 2.3 %

NVS stock opened at $106.81 on Thursday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $115.11 and its 200-day moving average is $109.55. The firm has a market cap of $218.32 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.61 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the prior year, the business posted $1.74 earnings per share. Equities analysts anticipate that Novartis AG will post 7.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of 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 restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.50.

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.