Hamilton Wealth LLC acquired a new position in shares of Novartis AG (NYSE:NVS – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,660 shares of the company’s stock, valued at approximately $559,000.
Several other institutional investors and hedge funds also recently bought and sold shares of NVS. BXM Wealth LLC increased its stake in shares of Novartis by 726.9% in the fourth quarter. BXM Wealth LLC now owns 42,817 shares of the company’s stock worth $5,903,000 after acquiring an additional 37,639 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Novartis by 14.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 113,737 shares of the company’s stock worth $15,681,000 after acquiring an additional 14,352 shares in the last quarter. HF Advisory Group LLC boosted its position in Novartis by 401.0% during the fourth quarter. HF Advisory Group LLC now owns 54,741 shares of the company’s stock valued at $7,547,000 after purchasing an additional 43,814 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Novartis by 36.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 14,815 shares of the company’s stock valued at $2,043,000 after purchasing an additional 3,967 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Novartis by 68.2% in the fourth quarter. Evergreen Capital Management LLC now owns 47,245 shares of the company’s stock valued at $6,514,000 after purchasing an additional 19,155 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.
Novartis Stock Down 0.6%
NVS stock opened at $158.82 on Thursday. The firm has a market cap of $303.06 billion, a PE ratio of 23.96, a PEG ratio of 2.75 and a beta of 0.45. Novartis AG has a 1 year low of $112.34 and a 1 year high of $170.46. The company has a fifty day simple moving average of $152.44 and a 200 day simple moving average of $152.58. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NVS shares. Citigroup reaffirmed a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus target price of $141.20.
Novartis Company Profile
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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