Jacobi Capital Management LLC Increases Position in Novartis AG (NYSE:NVS)

Jacobi Capital Management LLC boosted its position in Novartis AG (NYSE:NVSGet Rating) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,429 shares of the company’s stock after buying an additional 359 shares during the quarter. Jacobi Capital Management LLC’s holdings in Novartis were worth $476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVS. Optimum Investment Advisors grew its holdings in shares of Novartis by 10.9% during the first quarter. Optimum Investment Advisors now owns 1,126 shares of the company’s stock valued at $99,000 after purchasing an additional 111 shares during the last quarter. Hanson & Doremus Investment Management boosted its position in shares of Novartis by 13.4% during the first quarter. Hanson & Doremus Investment Management now owns 972 shares of the company’s stock worth $85,000 after buying an additional 115 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of Novartis by 6.7% during the first quarter. Harbor Investment Advisory LLC now owns 1,935 shares of the company’s stock worth $170,000 after buying an additional 122 shares during the period. Capital Investment Advisory Services LLC boosted its position in shares of Novartis by 2.8% during the first quarter. Capital Investment Advisory Services LLC now owns 4,596 shares of the company’s stock worth $403,000 after buying an additional 126 shares during the period. Finally, Mission Wealth Management LP boosted its position in shares of Novartis by 1.7% during the fourth quarter. Mission Wealth Management LP now owns 7,520 shares of the company’s stock worth $658,000 after buying an additional 128 shares during the period. 9.40% of the stock is owned by institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $85.57 on Friday. The company’s fifty day moving average is $85.04 and its two-hundred day moving average is $86.61. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. Novartis AG has a 12-month low of $79.09 and a 12-month high of $95.17. The company has a market cap of $189.33 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 2.41 and a beta of 0.51.

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

Analyst Upgrades and Downgrades

NVS has been the subject of several analyst reports. Barclays boosted their price objective on Novartis from CHF 80 to CHF 85 in a research report on Thursday, April 14th. upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 14th. Morgan Stanley upped their target price on Novartis from CHF 90 to CHF 94 in a research report on Friday, May 6th. Wolfe Research downgraded Novartis from an “outperform” rating to a “market perform” rating in a research report on Monday, May 9th. Finally, Oppenheimer downgraded Novartis from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.33.

Novartis Company Profile

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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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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