Hartford Funds Management Co LLC Increases Position in Novartis AG (NYSE:NVS)

Hartford Funds Management Co LLC raised its position in Novartis AG (NYSE:NVS) by 9.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,245 shares of the company’s stock after buying an additional 633 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Novartis were worth $705,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crestwood Advisors Group LLC purchased a new position in shares of Novartis in the 3rd quarter valued at $242,000. Avidian Wealth Enterprises LLC grew its position in shares of Novartis by 1.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,913 shares of the company’s stock valued at $910,000 after buying an additional 102 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of Novartis in the 3rd quarter valued at $228,000. Radnor Capital Management LLC grew its position in shares of Novartis by 10.1% in the 3rd quarter. Radnor Capital Management LLC now owns 6,525 shares of the company’s stock valued at $751,000 after buying an additional 600 shares during the last quarter. Finally, Foster & Motley Inc. grew its position in shares of Novartis by 17.4% in the 3rd quarter. Foster & Motley Inc. now owns 18,938 shares of the company’s stock valued at $2,178,000 after buying an additional 2,800 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Up 1.0 %

NVS stock opened at $113.00 on Friday. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The stock has a market capitalization of $230.97 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The company has a fifty day moving average of $103.67 and a 200-day moving average of $108.02.

Novartis (NYSE:NVS) last released its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, analysts expect that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of a number of recent analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley started coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.38.

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.