Journey Strategic Wealth LLC Increases Stake in Novartis AG (NYSE:NVS)

Journey Strategic Wealth LLC raised its holdings in shares of Novartis AG (NYSE:NVS) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,893 shares of the company’s stock after purchasing an additional 118 shares during the period. Journey Strategic Wealth LLC’s holdings in Novartis were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVS. Foundations Investment Advisors LLC increased its holdings in Novartis by 26.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after buying an additional 18,894 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Novartis by 115.3% in the third 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. CWA Asset Management Group LLC grew its stake in Novartis by 20.1% in the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after purchasing an additional 5,164 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Novartis by 135.5% in the 3rd quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock worth $4,598,000 after buying an additional 22,998 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 worth $18,088,000 after buying an additional 18,990 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.8 %

Novartis stock opened at $105.54 on Tuesday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a market cap of $215.72 billion, a PE ratio of 17.95, a PEG ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The business’s 50-day simple moving average is $100.10 and its two-hundred day simple moving average is $108.43.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.79%. Equities analysts anticipate that Novartis AG will post 8.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVS shares. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. StockNews.com downgraded Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, BMO Capital Markets boosted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

About Novartis

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.