Mitchell & Pahl Private Wealth LLC Buys 1,219 Shares of Novartis AG (NYSE:NVS)

Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,184 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Novartis were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its holdings in shares of Novartis by 4.5% in the 4th quarter. Ballentine Partners LLC now owns 19,234 shares of the company’s stock valued at $1,872,000 after buying an additional 824 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in Novartis by 6.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 2,137 shares of the company’s stock valued at $208,000 after acquiring an additional 131 shares during the last quarter. FLC Capital Advisors boosted its stake in Novartis by 9.3% in the fourth quarter. FLC Capital Advisors now owns 2,586 shares of the company’s stock valued at $252,000 after acquiring an additional 220 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in Novartis by 17.4% in the fourth quarter. Diversify Wealth Management LLC now owns 7,240 shares of the company’s stock worth $717,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Smart Money Group LLC increased its position in shares of Novartis by 7.1% during the fourth quarter. Smart Money Group LLC now owns 9,144 shares of the company’s stock worth $890,000 after purchasing an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted 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. Finally, Erste Group Bank reaffirmed 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 assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Trading Down 0.4 %

Shares of NYSE:NVS opened at $97.51 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock has a market cap of $199.30 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.34 and a beta of 0.57. The business has a 50-day moving average price of $100.61 and a 200-day moving average price of $109.01.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period last year, the firm posted $1.74 EPS. Equities analysts predict that Novartis AG will post 7.63 EPS for the current year.

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.