Arete Wealth Advisors LLC Has $310,000 Stock Holdings in Novartis AG (NYSE:NVS)

Arete Wealth Advisors LLC cut its holdings in Novartis AG (NYSE:NVSGet Rating) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,530 shares of the company’s stock after selling 271 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Novartis were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Balentine LLC lifted its stake in Novartis by 49.6% in the first quarter. Balentine LLC now owns 10,672 shares of the company’s stock valued at $936,000 after acquiring an additional 3,538 shares during the last quarter. Richard C. Young & CO. LTD. raised its position in shares of Novartis by 6.4% in the first quarter. Richard C. Young & CO. LTD. now owns 140,406 shares of the company’s stock valued at $12,321,000 after purchasing an additional 8,504 shares during the period. Grimes & Company Inc. raised its position in shares of Novartis by 53.1% in the first quarter. Grimes & Company Inc. now owns 138,958 shares of the company’s stock valued at $12,193,000 after purchasing an additional 48,186 shares during the period. Quadrant Capital Group LLC raised its position in shares of Novartis by 42.7% in the first quarter. Quadrant Capital Group LLC now owns 10,148 shares of the company’s stock valued at $890,000 after purchasing an additional 3,038 shares during the period. Finally, Mmbg Investment Advisors CO. raised its position in shares of Novartis by 751.5% in the first quarter. Mmbg Investment Advisors CO. now owns 32,324 shares of the company’s stock valued at $8,820,000 after purchasing an additional 28,528 shares during the period. 9.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Novartis from CHF 80 to CHF 75 in a research report on Wednesday, June 29th. Barclays boosted their target price on shares of Novartis from CHF 80 to CHF 85 in a research report on Thursday, April 14th. Wolfe Research lowered shares of Novartis from an “outperform” rating to a “market perform” rating in a research report on Monday, May 9th. Finally, raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.33.

Novartis Trading Up 0.4 %

Shares of Novartis stock opened at $85.57 on Friday. The firm has a market capitalization of $189.33 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 2.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 1.13. The company’s fifty day moving average price is $85.04 and its two-hundred day moving average price is $86.61. Novartis AG has a 52-week low of $79.09 and a 52-week high of $95.17.

Novartis (NYSE:NVSGet Rating) last announced its quarterly earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.04. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. On average, analysts expect that Novartis AG will post 6.06 EPS for the current year.

Novartis Profile

(Get Rating)

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, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Featured Articles

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.