Checchi Capital Advisers LLC Buys 1,565 Shares of Novartis AG (NVS)

Checchi Capital Advisers LLC lifted its stake in Novartis AG (NYSE:NVS) by 9.9% in the first quarter, HoldingsChannel.com reports. The firm owned 17,443 shares of the company’s stock after buying an additional 1,565 shares during the period. Checchi Capital Advisers LLC’s holdings in Novartis were worth $1,677,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NVS. Pathlight Investors LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $408,000. Executive Wealth Management LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $36,000. Wambolt & Associates LLC lifted 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 acquiring an additional 609 shares during the last quarter. Perennial Advisors LLC lifted 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 acquiring an additional 1,485 shares during the last quarter. Finally, Nwam LLC lifted its stake in shares of Novartis by 13.7% during the 1st quarter. Nwam LLC now owns 3,623 shares of the company’s stock worth $348,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 11.82% of the company’s stock.

Shares of NYSE NVS opened at $83.91 on Thursday. The firm has a market cap of $190.32 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.98 and a beta of 0.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.83. Novartis AG has a twelve month low of $63.60 and a twelve month high of $85.08.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.10. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The firm had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.76 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that Novartis AG will post 5 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on NVS. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research note on Tuesday, January 29th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a research note on Wednesday, April 24th. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $87.57.

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Novartis Company 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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