Allred Capital Management LLC Invests $400,000 in Novartis AG (NVS)

Allred Capital Management LLC purchased a new position in Novartis AG (NYSE:NVS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,220 shares of the company’s stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Research & Management Co. increased its stake in Novartis by 2.3% in the first quarter. American Research & Management Co. now owns 60,607 shares of the company’s stock valued at $5,827,000 after purchasing an additional 1,339 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in Novartis in the first quarter valued at $67,000. Jolley Asset Management LLC increased its stake in Novartis by 0.8% in the first quarter. Jolley Asset Management LLC now owns 50,538 shares of the company’s stock valued at $4,859,000 after purchasing an additional 412 shares during the last quarter. Autus Asset Management LLC acquired a new position in Novartis in the first quarter valued at $324,000. Finally, Steinberg Global Asset Management increased its stake in Novartis by 24.3% in the first quarter. Steinberg Global Asset Management now owns 5,470 shares of the company’s stock valued at $442,000 after purchasing an additional 1,070 shares during the last quarter. 11.68% of the stock is owned by institutional investors.

In other Novartis news, major shareholder Bioventures Ltd Novartis sold 43,800 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $1.92, for a total transaction of $84,096.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 870,195 shares of company stock valued at $1,062,051. 0.01% of the stock is owned by company insiders.

NVS stock traded down $1.29 during trading on Tuesday, reaching $79.67. 1,962,604 shares of the stock traded hands, compared to its average volume of 2,880,435. Novartis AG has a 52-week low of $72.30 and a 52-week high of $96.31. The company has a current ratio of 1.20, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The company has a market cap of $187.02 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.09). Novartis had a net margin of 24.30% and a return on equity of 15.66%. The firm had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $13.33 billion. During the same period last year, the firm posted $1.21 EPS. Novartis’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Novartis AG will post 5.1 EPS for the current fiscal year.

NVS has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research note on Wednesday, January 16th. Credit Suisse Group lowered Novartis to a “sell” rating in a research note on Thursday, December 20th. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. Finally, Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, December 18th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Novartis has an average rating of “Hold” and a consensus price target of $89.25.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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