Greenup Street Wealth Management LLC Takes $4.58 Million Position in Novartis AG (NYSE:NVS)

Greenup Street Wealth Management LLC purchased a new position in Novartis AG (NYSE:NVS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,106 shares of the company's stock, valued at approximately $4,583,000. Novartis accounts for about 0.9% of Greenup Street Wealth Management LLC's investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased 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 acquiring an additional 2,666 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Novartis by 129.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 98,412 shares of the company's stock valued at $9,560,000 after buying an additional 55,581 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Novartis by 105.9% during the 4th quarter. Venturi Wealth Management LLC now owns 11,631 shares of the company's stock valued at $1,132,000 after buying an additional 5,983 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Novartis by 14.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,703 shares of the company's stock valued at $2,696,000 after purchasing an additional 3,582 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Novartis during the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.4%

NVS traded down $0.44 during trading on Thursday, reaching $115.97. The stock had a trading volume of 1,004,533 shares, compared to its average volume of 1,579,408. Novartis AG has a one year low of $96.06 and a one year high of $120.92. The company has a market capitalization of $244.98 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.68 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $112.65 and its two-hundred day moving average is $107.33.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.16. The company had revenue of $13.23 billion for the quarter, compared to analysts' expectations of $12.92 billion. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.80 EPS. As a group, analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, BNP Paribas raised Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Novartis currently has a consensus rating of "Hold" and a consensus price target of $123.38.

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.