Atria Wealth Solutions Inc. Boosts Holdings in Novartis AG (NYSE:NVS)

Atria Wealth Solutions Inc. grew its position in Novartis AG (NYSE:NVS) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,703 shares of the company’s stock after purchasing an additional 3,582 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Novartis were worth $2,696,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis in the 3rd quarter worth $28,000. Human Investing LLC purchased a new stake in Novartis in the fourth quarter valued at about $25,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis in the fourth quarter worth about $27,000. Fortitude Family Office LLC grew its stake in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after acquiring an additional 267 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Novartis during the fourth quarter valued at about $55,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Trading Up 2.0 %

NYSE NVS opened at $109.42 on Friday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market capitalization of $223.65 billion, a PE ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a fifty day moving average of $101.24 and a 200 day moving average of $108.15.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Research analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Company 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.