CWA Asset Management Group LLC Purchases 5,164 Shares of Novartis AG (NYSE:NVS)

CWA Asset Management Group LLC raised its holdings in shares of Novartis AG (NYSE:NVS) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,840 shares of the company’s stock after acquiring an additional 5,164 shares during the quarter. CWA Asset Management Group LLC’s holdings in Novartis were worth $3,001,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the third quarter worth about $28,000. Richardson Financial Services Inc. purchased a new stake in Novartis during the 2nd quarter valued at approximately $30,000. Strategic Financial Concepts LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $35,000. Fortitude Family Office LLC lifted its holdings in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares in the last quarter. Finally, Clean Yield Group purchased a new position in Novartis during the third quarter valued at $43,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

NYSE:NVS opened at $97.68 on Tuesday. The firm has a market capitalization of $199.66 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The business has a 50 day simple moving average of $102.70 and a 200-day simple moving average of $109.54. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. Equities analysts forecast that Novartis AG will post 7.65 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.