Fairhaven Wealth Management LLC Grows Holdings in Novartis AG (NVS)

Fairhaven Wealth Management LLC lifted its position in Novartis AG (NYSE:NVS) by 9.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,286 shares of the company’s stock after acquiring an additional 360 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Novartis were worth $412,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of NVS. Pathlight Investors LLC purchased a new stake in Novartis in the 4th quarter worth approximately $408,000. Executive Wealth Management LLC acquired a new position in shares of Novartis during the 4th quarter worth $36,000. Wambolt & Associates LLC increased its stake in shares of Novartis by 8.0% during the 1st quarter. Wambolt & Associates LLC now owns 8,256 shares of the company’s stock worth $689,000 after purchasing an additional 609 shares during the last quarter. Perennial Advisors LLC increased its stake in shares of Novartis by 12.2% during the 4th quarter. Perennial Advisors LLC now owns 13,682 shares of the company’s stock worth $1,174,000 after purchasing an additional 1,485 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its stake in shares of Novartis by 17.0% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 29,463 shares of the company’s stock worth $2,528,000 after purchasing an additional 4,278 shares during the last quarter. Institutional investors and hedge funds own 11.72% of the company’s stock.

Several brokerages have recently commented on NVS. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research note on Wednesday, January 16th. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price on the stock in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $87.57.

NVS stock traded up $0.90 during trading on Friday, hitting $81.88. 2,047,120 shares of the stock traded hands, compared to its average volume of 3,055,513. Novartis AG has a one year low of $63.60 and a one year high of $85.08. The company has a market capitalization of $187.06 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.95 and a beta of 0.66. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.76 billion. During the same period last year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts expect that Novartis AG will post 4.98 earnings per share for the current year.

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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.

Read More: Cost of Capital Explained

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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