RVW Wealth LLC Purchases Shares of 2,248 Novartis AG (NYSE:NVS)

Key Points

• RVW Wealth LLC acquired 2,248 shares of Novartis AG, valued at approximately $251,000, during the first quarter, according to their 13F filing.
• Several institutional investors, including Continuum Advisory LLC and Intergy Private Wealth LLC, have recently increased their holdings in Novartis, indicating growing interest among financial institutions.
• Novartis reported earnings per share of $2.42 for the last quarter, exceeding analysts' estimates, and has a current consensus target price of $123.67 among analysts.

RVW Wealth LLC purchased a new stake in Novartis AG (NYSE:NVS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,248 shares of the company's stock, valued at approximately $251,000.

Several other institutional investors have also recently added to or reduced their stakes in NVS. Raiffeisen Bank International AG purchased a new stake in shares of Novartis during the 4th quarter worth approximately $25,000. Nexus Investment Management ULC purchased a new position in shares of Novartis during the 1st quarter worth $25,000. Tsfg LLC increased its holdings in shares of Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Novartis during the 4th quarter worth $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in Novartis in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Performance

NYSE NVS traded up $1.51 during trading hours on Friday, reaching $115.25. The company's stock had a trading volume of 1,927,789 shares, compared to its average volume of 1,958,642. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $117.94 and a 200 day simple moving average of $111.65. Novartis AG has a 52 week low of $96.06 and a 52 week high of $124.83. The stock has a market cap of $243.46 billion, a PE ratio of 16.78, a PEG ratio of 1.60 and a beta of 0.62.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share. Equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BNP Paribas raised shares of Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Novartis has a consensus rating of "Hold" and an average price target of $123.67.

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.