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Assetmark Inc. Grows Position in Novartis AG (NYSE:NVS)

Novartis logo with Medical background

Key Points

  • Assetmark Inc. increased its holdings in Novartis AG by 1.2% during the 1st quarter, owning a total of 268,940 shares valued at approximately $29.98 million.
  • Despite mixed ratings from Wall Street, with one upgrade to a "strong-buy," Novartis has a consensus rating of "Hold" and a price target of $123.67.
  • In its most recent earnings report, Novartis reported $2.42 earnings per share, exceeding analysts' estimates and reflecting a 12.3% year-on-year revenue growth to $14.05 billion.
  • Five stocks we like better than Novartis.

Assetmark Inc. lifted its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 268,940 shares of the company's stock after acquiring an additional 3,258 shares during the period. Assetmark Inc.'s holdings in Novartis were worth $29,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. JPMorgan Chase & Co. increased its position in shares of Novartis by 35.6% during the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company's stock worth $41,176,000 after purchasing an additional 111,066 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in Novartis by 9.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,041 shares of the company's stock worth $339,000 after buying an additional 252 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in Novartis by 23.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 13,721 shares of the company's stock worth $1,335,000 after buying an additional 2,635 shares during the period. Brighton Jones LLC lifted its stake in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock valued at $599,000 after buying an additional 2,666 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Novartis by 4.3% in the fourth quarter. LPL Financial LLC now owns 450,219 shares of the company's stock valued at $43,811,000 after buying an additional 18,630 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on NVS

Novartis Stock Performance

Shares of NYSE:NVS traded down $0.05 during trading on Wednesday, reaching $117.18. The company had a trading volume of 603,541 shares, compared to its average volume of 2,016,097. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $124.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The stock's fifty day moving average price is $117.79 and its 200 day moving average price is $111.40. The firm has a market capitalization of $247.52 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 25.64% and a return on equity of 41.08%. Novartis's revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.97 EPS. As a group, equities research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Novartis Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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