C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 1,398 Shares of Novartis AG (NYSE:NVS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Novartis AG (NYSE:NVS) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,495 shares of the company’s stock after purchasing an additional 1,398 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Novartis were worth $535,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NVS. Mirae Asset Global Investments Co. Ltd. raised its stake in Novartis by 128.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock worth $51,554,000 after buying an additional 296,890 shares during the period. World Investment Advisors LLC bought a new stake in shares of Novartis in the third quarter worth about $30,063,000. Fisher Asset Management LLC raised its position in shares of Novartis by 15.7% during the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after purchasing an additional 231,851 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Novartis during the 3rd quarter valued at about $24,096,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Novartis in the 3rd quarter valued at approximately $21,078,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on NVS shares. Morgan Stanley assumed coverage on shares of Novartis in a report on Wednesday. They set an “underweight” rating on the stock. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Up 0.5 %

Novartis stock opened at $107.56 on Friday. The company has a fifty day simple moving average of $100.53 and a 200 day simple moving average of $108.34. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a market cap of $219.85 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last released its earnings results 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%. Research analysts anticipate that Novartis AG will post 8.42 earnings per share for the current fiscal year.

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.