Novartis AG $NVS Shares Purchased by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its holdings in Novartis AG by 5.1% during Q1, now owning 45,617 shares valued at approximately $5.08 million.
• Novartis reported earnings of $2.42 per share for the last quarter, exceeding analysts' expectations of $2.38, while revenue rose by 12.3% year-over-year, totaling $14.05 billion.
• Analysts generally maintain a Hold rating for Novartis, with a consensus price target around $121.50, although some suggest potential growth with recent upgrades from institutions like Morgan Stanley.

Advisors Capital Management LLC raised its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,617 shares of the company's stock after purchasing an additional 2,220 shares during the quarter. Advisors Capital Management LLC's holdings in Novartis were worth $5,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in NVS. Raiffeisen Bank International AG bought a new stake in Novartis during the 4th quarter valued at $25,000. Nexus Investment Management ULC bought a new position in Novartis in the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in shares of Novartis in the 1st quarter worth approximately $25,000. Tsfg LLC raised its position in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after acquiring an additional 183 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Novartis in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Up 0.0%

NYSE NVS traded up $0.00 on Wednesday, reaching $122.78. 614,748 shares of the stock traded hands, compared to its average volume of 1,877,047. Novartis AG has a 12 month low of $96.06 and a 12 month high of $130.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a market cap of $259.37 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.72 and a beta of 0.63. The company has a fifty day moving average price of $121.76 and a 200-day moving average price of $115.98.

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

Analyst Ratings Changes

NVS has been the subject of several research reports. Wall Street Zen lowered shares of Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. The Goldman Sachs Group reaffirmed a "sell" rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Finally, Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $120.33.

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.