CV Advisors LLC acquired a new stake in shares of Novartis AG (NYSE:NVS – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,800 shares of the company’s stock, valued at approximately $596,000.
Other institutional investors also recently bought and sold shares of the company. Arlington Trust Co LLC bought a new position in Novartis in the fourth quarter worth approximately $25,000. Archer Investment Corp increased its holdings in shares of Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares during the period. CrossGen Wealth LLC purchased a new position in shares of Novartis in the 4th quarter valued at $28,000. Bank of Jackson Hole Trust raised its position in shares of Novartis by 425.0% in the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 187 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Novartis during the 3rd quarter worth $33,000. 13.12% of the stock is owned by hedge funds and other institutional investors.
Novartis Stock Performance
Shares of NVS stock opened at $151.85 on Friday. The business’s fifty day simple moving average is $153.68 and its 200-day simple moving average is $153.41. The company has a market cap of $289.76 billion, a PE ratio of 22.90, a PEG ratio of 2.61 and a beta of 0.45. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. Novartis AG has a 12-month low of $120.78 and a 12-month high of $170.46.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on NVS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.20.
Check Out Our Latest Analysis on NVS
About Novartis
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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