Glassman Wealth Services grew its stake in shares of Novartis AG (NYSE:NVS – Get Rating) by 33.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 991 shares of the company’s stock after purchasing an additional 249 shares during the quarter. Glassman Wealth Services’ holdings in Novartis were worth $87,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Matthew Goff Investment Advisor LLC boosted its position in Novartis by 1.2% in the fourth quarter. Matthew Goff Investment Advisor LLC now owns 60,635 shares of the company’s stock valued at $5,304,000 after buying an additional 690 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Novartis by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 69,800 shares of the company’s stock worth $5,708,000 after buying an additional 3,997 shares during the period. First Fiduciary Investment Counsel Inc. raised its stake in Novartis by 1.7% in the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 170,223 shares of the company’s stock valued at $14,889,000 after purchasing an additional 2,845 shares during the last quarter. FRG Family Wealth Advisors LLC acquired a new stake in shares of Novartis in the 4th quarter worth $899,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Novartis by 8.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 54,346 shares of the company’s stock worth $4,754,000 after acquiring an additional 4,162 shares during the last quarter. 9.40% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on NVS shares. Morgan Stanley lifted their price objective on Novartis from CHF 90 to CHF 94 in a research note on Friday, May 6th. StockNews.com assumed coverage on Novartis in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Zacks Investment Research downgraded Novartis from a “hold” rating to a “sell” rating and set a $94.00 target price on the stock. in a research note on Friday, April 22nd. upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 14th. Finally, Societe Generale decreased their price target on Novartis from CHF 107 to CHF 105 in a research note on Thursday, February 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.50.
Novartis (NYSE:NVS – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. The company had revenue of $12.53 billion during the quarter, compared to analysts’ expectations of $12.61 billion. Novartis had a return on equity of 23.16% and a net margin of 46.47%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. As a group, analysts anticipate that Novartis AG will post 6.1 EPS for the current year.
Novartis Company Profile (Get Rating)
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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