Ritholtz Wealth Management Acquires 417 Shares of Novartis AG (NYSE:NVS)

Ritholtz Wealth Management increased its holdings in Novartis AG (NYSE:NVS) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,167 shares of the company’s stock after purchasing an additional 417 shares during the quarter. Ritholtz Wealth Management’s holdings in Novartis were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVS. Cullen Capital Management LLC grew its stake in shares of Novartis by 393.8% in the first quarter. Cullen Capital Management LLC now owns 2,592,668 shares of the company’s stock worth $221,621,000 after purchasing an additional 2,067,642 shares during the last quarter. Parnassus Investments CA acquired a new position in Novartis in the first quarter valued at $79,608,000. BlackRock Inc. lifted its holdings in Novartis by 80.4% in the first quarter. BlackRock Inc. now owns 1,250,230 shares of the company’s stock valued at $106,870,000 after buying an additional 557,281 shares during the period. Fisher Asset Management LLC lifted its holdings in Novartis by 3.4% in the first quarter. Fisher Asset Management LLC now owns 9,657,603 shares of the company’s stock valued at $825,532,000 after buying an additional 319,803 shares during the period. Finally, Morgan Stanley lifted its holdings in Novartis by 10.3% in the fourth quarter. Morgan Stanley now owns 2,808,993 shares of the company’s stock valued at $265,253,000 after buying an additional 263,445 shares during the period. 10.11% of the stock is currently owned by institutional investors.

Shares of NVS stock opened at $93.50 on Friday. Novartis AG has a 52-week low of $77.04 and a 52-week high of $98.52. The company has a quick ratio of 0.50, a current ratio of 0.74 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $87.96. The company has a market cap of $213.99 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Monday, April 26th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.02). Novartis had a return on equity of 24.15% and a net margin of 16.31%. The firm had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.63 billion. During the same period in the previous year, the company posted $1.56 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts predict that Novartis AG will post 6.33 earnings per share for the current fiscal year.

Several research firms recently issued reports on NVS. Argus restated a “hold” rating on shares of Novartis in a report on Tuesday, March 16th. Oddo Bhf upgraded shares of Novartis from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 28th. Societe Generale reiterated a “buy” rating on shares of Novartis in a report on Tuesday, March 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a report on Wednesday, April 28th. Finally, Sanford C. Bernstein assumed coverage on shares of Novartis in a report on Monday, March 22nd. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Novartis currently has a consensus rating of “Hold” and a consensus price target of $108.50.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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