NewEdge Wealth LLC Grows Holdings in Novartis AG (NYSE:NVS)

NewEdge Wealth LLC raised its position in Novartis AG (NYSE:NVS) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 424,648 shares of the company’s stock after buying an additional 32,398 shares during the period. NewEdge Wealth LLC’s holdings in Novartis were worth $41,322,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Novartis during the 3rd quarter worth approximately $19,878,000. J.W. Cole Advisors Inc. grew its position in shares of Novartis by 4.2% during the third quarter. J.W. Cole Advisors Inc. now owns 6,310 shares of the company’s stock worth $726,000 after buying an additional 257 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in shares of Novartis in the third quarter worth $270,000. Finally, Diversify Advisory Services LLC raised its holdings in Novartis by 78.8% in the third quarter. Diversify Advisory Services LLC now owns 4,720 shares of the company’s stock valued at $540,000 after acquiring an additional 2,080 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 1.5 %

NYSE:NVS opened at $107.95 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $102.12 and a 200-day moving average of $108.08. The firm has a market capitalization of $220.64 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (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%. Analysts predict that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVS shares. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Finally, Barclays reissued an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.38.

Novartis Company 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.