Novartis AG (NYSE:NVS) Stock Position Raised by Welch & Forbes LLC

Welch & Forbes LLC grew its position in Novartis AG (NYSE:NVS) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,677 shares of the company’s stock after purchasing an additional 984 shares during the period. Welch & Forbes LLC’s holdings in Novartis were worth $7,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Winslow Evans & Crocker Inc. raised its holdings in shares of Novartis by 11.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after acquiring an additional 114 shares during the period. PagnatoKarp Partners LLC boosted its holdings in shares of Novartis by 0.6% during the 2nd quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock worth $1,725,000 after buying an additional 115 shares during the period. Old Port Advisors boosted its holdings in shares of Novartis by 4.5% during the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after buying an additional 116 shares during the period. IHT Wealth Management LLC boosted its holdings in Novartis by 3.6% in the 2nd quarter. IHT Wealth Management LLC now owns 3,514 shares of the company’s stock valued at $321,000 after purchasing an additional 123 shares during the period. Finally, H D Vest Advisory Services boosted its holdings in Novartis by 4.7% in the 2nd quarter. H D Vest Advisory Services now owns 3,013 shares of the company’s stock valued at $275,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 11.19% of the company’s stock.

A number of brokerages have weighed in on NVS. ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Argus raised their price objective on shares of Novartis to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Kepler Capital Markets cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research cut shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $93.29.

Shares of NVS opened at $86.60 on Friday. The company has a market cap of $196.38 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.28 and a beta of 0.59. Novartis AG has a 1-year low of $72.19 and a 1-year high of $95.00. The company’s fifty day simple moving average is $87.66 and its 200 day simple moving average is $87.91. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.14. The firm had revenue of $11.76 billion for the quarter, compared to the consensus estimate of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, research analysts forecast that Novartis AG will post 5.15 earnings per share for the current year.

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.

Further Reading: Diversification

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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