Diversify Wealth Management LLC Raises Stock Position in Novartis AG (NYSE:NVS)

Diversify Wealth Management LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,240 shares of the company’s stock after acquiring an additional 1,072 shares during the period. Diversify Wealth Management LLC’s holdings in Novartis were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Novartis by 115.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock valued at $26,797,000 after purchasing an additional 124,111 shares during the last quarter. Bank of Montreal Can boosted its holdings in Novartis by 343.5% in the second quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock worth $70,652,000 after acquiring an additional 509,567 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock worth $3,001,000 after acquiring an additional 5,164 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Novartis by 135.5% during the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after acquiring an additional 22,998 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Novartis by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock valued at $18,088,000 after purchasing an additional 18,990 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVS shares. BMO Capital Markets upped their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Price Performance

NYSE:NVS opened at $99.69 on Wednesday. The firm’s fifty day moving average is $100.44 and its two-hundred day moving average is $108.94. The firm has a market cap of $203.76 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.34 and a beta of 0.57. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the prior year, the business earned $1.74 earnings per share. Research analysts expect that Novartis AG will post 7.63 EPS for the current year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.