Ascent Wealth Partners LLC Raises Stock Position in Novartis AG (NYSE:NVS)

Ascent Wealth Partners LLC lifted its position in Novartis AG (NYSE:NVS) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,203 shares of the company’s stock after buying an additional 169 shares during the period. Ascent Wealth Partners LLC’s holdings in Novartis were worth $1,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Human Investing LLC purchased a new position in shares of Novartis in the 4th quarter worth approximately $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis in the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Novartis in the 3rd quarter worth approximately $28,000. Fortitude Family Office LLC grew its position in shares of Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Novartis in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets boosted their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

NYSE:NVS opened at $109.42 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The company has a fifty day moving average of $101.46 and a two-hundred day moving average of $108.13. The stock 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. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.

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

About Novartis

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.