StrongBox Wealth LLC Has $611,000 Position in Novartis AG (NYSE:NVS)

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StrongBox Wealth LLC grew its stake in Novartis AG (NYSE:NVS) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,001 shares of the company’s stock after purchasing an additional 611 shares during the period. StrongBox Wealth LLC’s holdings in Novartis were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marquette Asset Management LLC acquired a new stake in shares of Novartis in the 1st quarter valued at approximately $25,000. Advisory Alpha LLC acquired a new stake in shares of Novartis in the 1st quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in Novartis by 262.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the last quarter. Weaver Consulting Group raised its holdings in Novartis by 46.4% in the 2nd quarter. Weaver Consulting Group now owns 410 shares of the company’s stock valued at $36,000 after buying an additional 130 shares during the last quarter. Finally, JCIC Asset Management Inc. raised its holdings in Novartis by 37.8% in the 1st quarter. JCIC Asset Management Inc. now owns 565 shares of the company’s stock valued at $47,000 after buying an additional 155 shares during the last quarter. Institutional investors own 10.80% of the company’s stock.

Novartis stock traded down $2.09 during mid-day trading on Friday, hitting $82.14. 2,341,202 shares of the stock were exchanged, compared to its average volume of 1,477,156. The company has a quick ratio of 0.58, a current ratio of 0.81 and a debt-to-equity ratio of 0.48. Novartis AG has a 12 month low of $69.18 and a 12 month high of $99.84. The firm’s fifty day simple moving average is $87.16 and its two-hundred day simple moving average is $87.43. The stock has a market capitalization of $192.78 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.82 and a beta of 0.50.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Novartis had a net margin of 14.96% and a return on equity of 24.14%. The firm had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the business earned $1.34 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, analysts forecast that Novartis AG will post 5.67 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the stock. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Wednesday, April 29th. Goldman Sachs Group reiterated a “buy” rating and issued a $116.00 price objective on shares of Novartis in a report on Friday, April 3rd. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Monday, May 11th. ValuEngine lowered shares of Novartis from a “hold” rating to a “sell” rating in a report on Friday, June 5th. Finally, Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a report on Monday, June 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Novartis has an average rating of “Hold” and a consensus target price of $108.00.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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