Glassy Mountain Advisors Inc. Increases Holdings in Novartis AG (NYSE:NVS)

Glassy Mountain Advisors Inc. grew its holdings in Novartis AG (NYSE:NVS) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,559 shares of the company’s stock after acquiring an additional 1,776 shares during the period. Novartis comprises about 1.7% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position. Glassy Mountain Advisors Inc.’s holdings in Novartis were worth $4,920,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Novartis in the third quarter valued at about $28,000. Fortitude Family Office LLC increased its holdings in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Novartis in the fourth quarter worth about $55,000. Finally, Crews Bank & Trust bought a new stake in shares of Novartis in the fourth quarter worth about $72,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Down 2.6 %

Shares of NYSE NVS opened at $106.95 on Friday. 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 firm has a market capitalization of $218.60 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.51 and a beta of 0.58. The stock has a 50 day moving average price of $100.28 and a 200 day moving average price of $108.42. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92.

Novartis (NYSE:NVS) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.79% and a net margin of 23.56%. Sell-side analysts expect that Novartis AG will post 8.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on NVS. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. StockNews.com cut Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, BMO Capital Markets upped their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis 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.