SOA Wealth Advisors LLC. Purchases 14,416 Shares of Novartis AG $NVS

SOA Wealth Advisors LLC. raised its position in Novartis AG (NYSE:NVS) by 4,316.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,750 shares of the company’s stock after purchasing an additional 14,416 shares during the period. SOA Wealth Advisors LLC.’s holdings in Novartis were worth $2,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Auto Owners Insurance Co grew its holdings in shares of Novartis by 13,687.0% during the 4th quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock worth $638,103,000 after purchasing an additional 4,594,726 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Novartis during the first quarter valued at approximately $220,004,000. Morgan Stanley raised its stake in shares of Novartis by 14.9% in the fourth quarter. Morgan Stanley now owns 8,876,906 shares of the company’s stock valued at $1,223,860,000 after purchasing an additional 1,148,033 shares in the last quarter. GQG Partners LLC boosted its stake in Novartis by 39.6% during the fourth quarter. GQG Partners LLC now owns 3,158,122 shares of the company’s stock worth $435,414,000 after buying an additional 895,255 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Novartis during the fourth quarter worth $108,638,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.5%

Shares of NVS opened at $152.35 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market cap of $290.71 billion, a PE ratio of 22.98, a PEG ratio of 2.65 and a beta of 0.45. Novartis AG has a 1 year low of $119.97 and a 1 year high of $170.46. The stock has a 50 day simple moving average of $153.61 and a 200-day simple moving average of $153.38.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The business had revenue of $14.95 billion for the quarter. On average, sell-side analysts predict that Novartis AG will post 8.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NVS shares. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.