Garde Capital Inc. purchased a new stake in Novartis AG (NYSE:NVS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,200 shares of the company’s stock, valued at approximately $618,000.
Other institutional investors have also added to or reduced their stakes in the company. WFG Advisors LP raised its stake in shares of Novartis by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after purchasing an additional 337 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Novartis in the third quarter worth about $106,000. Cable Hill Partners LLC raised its stake in shares of Novartis by 588.8% in the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after purchasing an additional 1,107 shares during the last quarter. Harding Loevner LP purchased a new position in shares of Novartis in the second quarter worth about $146,000. Finally, Mosaic Family Wealth LLC raised its stake in shares of Novartis by 6.1% in the second quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock worth $179,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 10.87% of the company’s stock.
Shares of Novartis AG (NYSE NVS) traded up $0.20 during mid-day trading on Thursday, reaching $84.66. The company had a trading volume of 879,300 shares, compared to its average volume of 2,248,176. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. The stock has a market capitalization of $199,798.16, a PE ratio of 17.78, a P/E/G ratio of 2.68 and a beta of 0.73. Novartis AG has a 52 week low of $69.53 and a 52 week high of $86.90.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same period last year, the company earned $1.23 earnings per share. Novartis’s quarterly revenue was up 2.4% compared to the same quarter last year. research analysts anticipate that Novartis AG will post 4.75 EPS for the current year.
Several brokerages have recently issued reports on NVS. Bank of America cut Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, October 31st. Zacks Investment Research upgraded Novartis from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Finally, Leerink Swann lifted their price target on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Novartis presently has a consensus rating of “Hold” and a consensus price target of $85.32.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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