Novartis AG (NYSE:NVS) Stake Boosted by Brookmont Capital Management

Brookmont Capital Management increased its stake in Novartis AG (NYSE:NVS) by 0.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 46,382 shares of the company’s stock after buying an additional 347 shares during the quarter. Novartis accounts for approximately 2.5% of Brookmont Capital Management’s portfolio, making the stock its 9th largest holding. Brookmont Capital Management’s holdings in Novartis were worth $4,235,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NVS. Truvestments Capital LLC bought a new stake in shares of Novartis during the first quarter valued at about $25,000. Canton Hathaway LLC bought a new stake in shares of Novartis during the first quarter valued at about $26,000. Harvest Group Wealth Management LLC bought a new stake in shares of Novartis during the first quarter valued at about $27,000. Financial Gravity Wealth Inc. bought a new stake in shares of Novartis during the first quarter valued at about $33,000. Finally, Camarda Financial Advisors LLC bought a new stake in shares of Novartis during the first quarter valued at about $36,000. 11.88% of the stock is currently owned by institutional investors.

Shares of NVS stock traded up $1.06 during trading on Friday, hitting $93.05. The company had a trading volume of 130,927 shares, compared to its average volume of 2,100,851. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $90.88. The firm has a market cap of $213.55 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. Novartis AG has a 52 week low of $71.33 and a 52 week high of $95.00.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. Novartis’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. On average, research analysts anticipate that Novartis AG will post 4.99 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on NVS shares. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target on the stock in a research report on Wednesday, April 24th. Morgan Stanley set a $165.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, April 10th. Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price target on from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the company a “neutral” rating in a research report on Friday, July 5th. Finally, Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $90.63.

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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