Private Advisor Group LLC raised its position in shares of Novartis AG (NYSE:NVS – Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,522 shares of the company’s stock after purchasing an additional 1,466 shares during the quarter. Private Advisor Group LLC’s holdings in Novartis were worth $3,943,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its position in shares of Novartis by 26.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock worth $8,668,000 after acquiring an additional 18,894 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Novartis by 115.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock worth $26,797,000 after acquiring an additional 124,111 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after purchasing an additional 5,164 shares during the period. Quantbot Technologies LP boosted its position in Novartis by 135.5% in the 3rd quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after buying an additional 22,998 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in Novartis in the fourth quarter worth approximately $239,000. Institutional investors own 13.12% of the company’s stock.
Novartis Trading Up 2.0 %
NYSE:NVS opened at $109.42 on Monday. The stock has a market capitalization of $223.65 billion, a price-to-earnings ratio of 18.61, a PEG 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. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $101.46 and a 200 day moving average of $108.11.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating for the company. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.38.
View Our Latest Research Report on Novartis
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.
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