WealthPlan Investment Management LLC Has $1.09 Million Stock Holdings in Novartis AG (NYSE:NVS)

WealthPlan Investment Management LLC raised its stake in shares of Novartis AG (NYSE:NVS) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,494 shares of the company’s stock after purchasing an additional 100 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Novartis were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Keystone Financial Services boosted its holdings in shares of Novartis by 7.5% in the 3rd quarter. Keystone Financial Services now owns 7,137 shares of the company’s stock worth $821,000 after acquiring an additional 501 shares in the last quarter. Addison Advisors LLC boosted its stake in Novartis by 4.5% in the third quarter. Addison Advisors LLC now owns 2,783 shares of the company’s stock worth $320,000 after purchasing an additional 121 shares in the last quarter. Catalytic Wealth RIA LLC grew its holdings in shares of Novartis by 21.3% during the third quarter. Catalytic Wealth RIA LLC now owns 4,689 shares of the company’s stock worth $539,000 after purchasing an additional 822 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Novartis in the third quarter valued at $619,000. Finally, Ashton Thomas Securities LLC lifted its position in Novartis by 8.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 29,001 shares of the company’s stock worth $3,336,000 after buying an additional 2,297 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $105.68 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The stock has a market capitalization of $216.01 billion, a PE ratio of 12.27, a PEG ratio of 1.55 and a beta of 0.58. The firm has a 50 day moving average of $114.56 and a 200-day moving average of $109.78.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS 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 analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the firm posted $1.74 earnings per share. On average, equities research analysts predict that Novartis AG will post 7.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. BMO Capital Markets raised their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novartis has a consensus rating of “Hold” and a consensus target price of $121.50.

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.