Novartis AG (NYSE:NVS) Shares Purchased by Angeles Wealth Management LLC

Angeles Wealth Management LLC raised its stake in Novartis AG (NYSE:NVS) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,249 shares of the company’s stock after acquiring an additional 110 shares during the quarter. Angeles Wealth Management LLC’s holdings in Novartis were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVS. Union Bancaire Privee UBP SA purchased a new position in Novartis in the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the third quarter worth about $28,000. Fortitude Family Office LLC raised its position in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Novartis during the fourth quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in Novartis during the fourth quarter worth approximately $69,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Up 0.5 %

Shares of NYSE:NVS opened at $106.81 on Tuesday. The stock has a 50-day simple moving average of $100.32 and a 200-day simple moving average of $108.39. The stock has a market capitalization of $218.31 billion, a P/E ratio of 18.16, a PEG ratio of 1.70 and a beta of 0.58. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 1.04.

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, topping 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%. Equities analysts forecast that Novartis AG will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVS. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report 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 investment analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.38.

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.