Wambolt & Associates LLC Increases Stock Holdings in Novartis AG (NYSE:NVS)

Wambolt & Associates LLC lifted its position in Novartis AG (NYSE:NVS) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,498 shares of the company’s stock after buying an additional 1,242 shares during the quarter. Wambolt & Associates LLC’s holdings in Novartis were worth $867,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of Novartis in the first quarter worth about $25,000. Canton Hathaway LLC purchased a new stake in Novartis in the first quarter valued at approximately $26,000. Harvest Group Wealth Management LLC purchased a new stake in Novartis in the first quarter valued at approximately $27,000. Asset Dedication LLC raised its stake in Novartis by 98.7% in the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares in the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new stake in Novartis in the first quarter valued at approximately $33,000. 11.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Argus raised their target price on shares of Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley downgraded 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. Finally, Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Friday, July 19th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $90.63.

Shares of NVS stock traded up $0.41 during trading hours on Wednesday, hitting $88.63. 389,916 shares of the company’s stock were exchanged, compared to its average volume of 2,254,085. The stock has a market capitalization of $202.08 billion, a P/E ratio of 17.37, a PEG ratio of 2.10 and a beta of 0.58. Novartis AG has a 12-month low of $71.33 and a 12-month high of $95.00. The stock has a 50 day simple moving average of $91.59. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping the 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 5.06 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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