Stratos Wealth Partners LTD. Raises Stake in Novartis AG (NVS)
Stratos Wealth Partners LTD. grew its holdings in Novartis AG (NYSE:NVS) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,706 shares of the company’s stock after acquiring an additional 2,822 shares during the period. Stratos Wealth Partners LTD.’s holdings in Novartis AG were worth $3,666,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NVS. Geode Capital Management LLC raised its stake in shares of Novartis AG by 19.8% in the 1st quarter. Geode Capital Management LLC now owns 18,918 shares of the company’s stock valued at $1,405,000 after acquiring an additional 3,125 shares during the period. BlackRock Inc. purchased a new stake in Novartis AG during the 1st quarter worth $210,378,000. Epoch Investment Partners Inc. increased its stake in Novartis AG by 40.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 8,251 shares of the company’s stock worth $613,000 after buying an additional 2,394 shares during the period. United Capital Financial Advisers LLC increased its stake in Novartis AG by 9.5% during the 1st quarter. United Capital Financial Advisers LLC now owns 225,298 shares of the company’s stock worth $16,733,000 after buying an additional 19,466 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC increased its stake in Novartis AG by 3.4% during the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. 11.00% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on NVS shares. Cowen and Company reaffirmed a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, August 29th. Finally, Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.32.
Shares of Novartis AG (NYSE NVS) traded up $0.32 during mid-day trading on Wednesday, reaching $83.03. 1,113,800 shares of the company’s stock traded hands, compared to its average volume of 2,338,525. The firm has a market cap of $214,780.00, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. equities research analysts predict that Novartis AG will post 4.75 earnings per share for the current fiscal year.
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About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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