28,299 Novartis AG $NVS Shares Purchased by South Shore Capital Advisors

South Shore Capital Advisors raised its position in Novartis AG (NYSE:NVS) by 986.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,169 shares of the company’s stock after purchasing an additional 28,299 shares during the period. Novartis accounts for approximately 3.0% of South Shore Capital Advisors’ portfolio, making the stock its 6th biggest holding. South Shore Capital Advisors’ holdings in Novartis were worth $4,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Novartis by 9.1% during the first quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after buying an additional 413,778 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Novartis by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock valued at $365,308,000 after buying an additional 19,595 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Novartis by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock worth $347,649,000 after buying an additional 41,520 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of Novartis in the first quarter worth about $220,004,000. Finally, Sei Investments Co. boosted its position in Novartis by 9.6% during the first quarter. Sei Investments Co. now owns 619,274 shares of the company’s stock worth $94,594,000 after acquiring an additional 54,262 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVS shares. Bank of America reaffirmed a “buy” rating on shares of Novartis in a research note on Tuesday, September 8th. The Goldman Sachs Group reissued a “sell” rating on shares of Novartis in a research note on Monday, September 21st. Berenberg Bank lowered their target price on Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, September 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis in a research report on Sunday, August 9th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $145.60.

Novartis Trading Up 2.1%

Shares of Novartis stock traded up $3.23 during trading hours on Tuesday, hitting $153.43. The company’s stock had a trading volume of 761,166 shares, compared to its average volume of 1,982,610. The stock has a market cap of $292.76 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 2.73 and a beta of 0.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. Novartis AG has a twelve month low of $121.57 and a twelve month high of $170.46. The firm has a fifty day moving average of $148.21 and a 200-day moving average of $150.45.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The firm had revenue of $14.95 billion during the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. Research analysts forecast that Novartis AG will post 8.91 EPS for the current year.

Novartis Company Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.