Envestnet Asset Management Inc. Acquires 19,704 Shares of Novartis AG (NVS)

Envestnet Asset Management Inc. raised its position in Novartis AG (NYSE:NVS) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 621,146 shares of the company’s stock after buying an additional 19,704 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Novartis were worth $53,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. WFG Advisors LP lifted its position in shares of Novartis by 38.1% in the 2nd 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 period. Cable Hill Partners LLC lifted its position in shares of Novartis by 588.8% in the 3rd 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 period. Harding Loevner LP acquired a new position in shares of Novartis in the 2nd quarter worth approximately $146,000. Mosaic Family Wealth LLC increased its stake in shares of Novartis by 6.1% in the 2nd quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock valued at $179,000 after acquiring an additional 123 shares in the last quarter. Finally, Barrett Asset Management LLC increased its stake in shares of Novartis by 650.0% in the 2nd quarter. Barrett Asset Management LLC now owns 2,250 shares of the company’s stock valued at $188,000 after acquiring an additional 1,950 shares in the last quarter. 10.87% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on NVS. BidaskClub lowered shares of Novartis from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Cowen set a $90.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research report on Wednesday, August 9th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a research report on Tuesday, September 26th. Barclays cut shares of Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Finally, Leerink Swann increased their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Novartis has an average rating of “Hold” and a consensus price target of $85.32.

Novartis AG (NVS) traded up $0.25 during trading hours on Monday, reaching $86.05. The company’s stock had a trading volume of 1,178,700 shares, compared to its average volume of 2,291,198. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The company has a market cap of $203,559.45, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 2.74 and a beta of 0.73.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The firm had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. equities research analysts expect that Novartis AG will post 4.75 EPS for the current fiscal year.

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About Novartis

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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