4,155 Shares in Novartis AG $NVS Bought by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. bought a new stake in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,155 shares of the company’s stock, valued at approximately $651,000.

Several other hedge funds have also bought and sold shares of the stock. Arlington Trust Co LLC purchased a new position in shares of Novartis during the fourth quarter valued at about $25,000. Archer Investment Corp lifted its position in shares of Novartis by 93.0% in the first quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Evolution Wealth Management Inc. boosted its stake in Novartis by 552.0% during the second quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after buying an additional 138 shares during the last quarter. Atlatl Advisers LLC purchased a new position in Novartis during the 2nd quarter valued at approximately $26,000. Finally, CrossGen Wealth LLC purchased a new position in Novartis during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVS shares. Citigroup reaffirmed a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $141.20.

Novartis Stock Up 1.8%

Shares of NYSE:NVS opened at $159.06 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. Novartis AG has a 12 month low of $121.57 and a 12 month high of $170.46. The company has a 50-day moving average price of $154.35 and a 200 day moving average price of $153.64. The company has a market cap of $303.51 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.68 and a beta of 0.45.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The company had revenue of $14.95 billion for the quarter. As a group, equities research analysts predict that Novartis AG will post 8.85 earnings per share for the current year.

Novartis Profile

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.