Steward Partners Investment Advisory LLC Buys 3,614 Shares of Novartis AG $NVS

Steward Partners Investment Advisory LLC lifted its position in Novartis AG (NYSE:NVS) by 8.3% during the 2nd quarter, Holdings Channel reports. The firm owned 47,199 shares of the company’s stock after acquiring an additional 3,614 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Novartis were worth $5,712,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Essex Savings Bank grew its position in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after buying an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after buying an additional 85 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after purchasing an additional 87 shares during the last quarter. Forum Financial Management LP grew its position in Novartis by 0.4% during the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock valued at $2,978,000 after purchasing an additional 88 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its stake in shares of Novartis by 1.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after buying an additional 90 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Up 0.1%

Novartis stock opened at $130.44 on Thursday. Novartis AG has a one year low of $96.06 and a one year high of $134.00. The stock has a fifty day moving average of $128.00 and a 200 day moving average of $122.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 0.88. The stock has a market cap of $275.54 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The firm had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVS. Cowen reissued a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen cut Novartis from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.33.

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.