Rand Wealth LLC boosted its stake in Novartis AG (NYSE:NVS) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 64,067 shares of the company’s stock after buying an additional 3,122 shares during the period. Rand Wealth LLC’s holdings in Novartis AG were worth $5,059,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its stake in shares of Novartis AG by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,545 shares of the company’s stock valued at $375,000 after buying an additional 15 shares during the period. PacWest Financial Management Inc boosted its stake in shares of Novartis AG by 0.4% in the third quarter. PacWest Financial Management Inc now owns 6,254 shares of the company’s stock valued at $494,000 after buying an additional 25 shares during the period. Capital Investment Advisors LLC boosted its stake in shares of Novartis AG by 0.9% in the third quarter. Capital Investment Advisors LLC now owns 4,025 shares of the company’s stock valued at $318,000 after buying an additional 37 shares during the period. Duncker Streett & Co. Inc. boosted its stake in shares of Novartis AG by 0.5% in the third quarter. Duncker Streett & Co. Inc. now owns 7,950 shares of the company’s stock valued at $628,000 after buying an additional 37 shares during the period. Finally, Wealthsource Partners LLC boosted its stake in shares of Novartis AG by 1.3% in the second quarter. Wealthsource Partners LLC now owns 2,907 shares of the company’s stock valued at $240,000 after buying an additional 38 shares during the period. Institutional investors own 9.86% of the company’s stock.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Novartis AG (NYSE:NVS) traded down 0.17% during midday trading on Tuesday, reaching $68.96. 1,803,283 shares of the company were exchanged. The stock has a market capitalization of $163.82 billion, a price-to-earnings ratio of 24.32 and a beta of 0.71. The firm’s 50-day moving average price is $72.79 and its 200 day moving average price is $78.41. Novartis AG has a 52-week low of $67.28 and a 52-week high of $88.49.

Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. The firm earned $12.13 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. Novartis AG’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. Equities analysts predict that Novartis AG will post $4.72 earnings per share for the current year.

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NVS has been the subject of several recent analyst reports. Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Chardan Capital started coverage on shares of Novartis AG in a research report on Tuesday, September 20th. They set a “buy” rating and a $95.00 target price for the company. Zacks Investment Research cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Finally, TheStreet cut shares of Novartis AG from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $88.50.

About Novartis AG

Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.

5 Day Chart for NYSE:NVS

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