Novartis AG $NVS Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its position in Novartis AG shares by 18.3%, holding 13,357 shares worth $1,616,000 at the end of the second quarter.
• Novartis reported earnings of $2.42 per share for the most recent quarter, surpassing analysts' expectations by $0.04, with revenue growing 12.3% year-over-year to $14.05 billion.
• Wall Street analysts have mixed ratings for Novartis, with one "Strong Buy," one "Buy," four "Hold," and three "Sell" ratings, reflecting a consensus rating of "Hold" and an average price target of $120.33.

HB Wealth Management LLC boosted its position in shares of Novartis AG (NYSE:NVS - Free Report) by 18.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 13,357 shares of the company's stock after acquiring an additional 2,064 shares during the quarter. HB Wealth Management LLC's holdings in Novartis were worth $1,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Essex Savings Bank lifted its holdings in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company's stock valued at $558,000 after buying an additional 85 shares during the period. Physician Wealth Advisors Inc. lifted its holdings in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock valued at $186,000 after buying an additional 85 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock valued at $650,000 after buying an additional 92 shares during the period. Sage Rhino Capital LLC lifted its holdings in shares of Novartis by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company's stock valued at $983,000 after buying an additional 99 shares during the period. Finally, Norris Perne & French LLP MI lifted its holdings in shares of Novartis by 4.1% in the 2nd quarter. Norris Perne & French LLP MI now owns 2,531 shares of the company's stock valued at $306,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Performance

NYSE NVS opened at $130.94 on Friday. The stock has a market capitalization of $276.59 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.84 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $131.96. 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 stock has a 50-day moving average of $123.28 and a 200 day moving average of $117.04.

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, topping analysts' consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. Novartis's quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVS. The Goldman Sachs Group reissued a "sell" rating and issued a $118.00 price objective (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. 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 report on Friday, August 8th. Wall Street Zen cut Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Novartis in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of "Hold" and an average price target of $120.33.

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.

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