Ritholtz Wealth Management Grows Stock Holdings in Novartis AG $NVS

Key Points

• Ritholtz Wealth Management increased its holdings in Novartis AG by 10.2% during the 2nd quarter, owning a total of 100,665 shares worth approximately $12.18 million.
• Institutional investors now hold 13.12% of Novartis’ stock, with multiple firms, including Essex Savings Bank and Physician Wealth Advisors Inc., also boosting their stakes in the company.
• Analysts have mixed opinions on Novartis stock, with ratings ranging from Strong Buy to Sell, and a consensus price target of $120.33.

Ritholtz Wealth Management grew its position in shares of Novartis AG (NYSE:NVS - Free Report) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,665 shares of the company's stock after buying an additional 9,355 shares during the quarter. Ritholtz Wealth Management's holdings in Novartis were worth $12,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NVS. Essex Savings Bank raised its holdings in Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company's stock worth $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. grew its stake in shares of Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock valued at $186,000 after acquiring an additional 85 shares during the period. Gallacher Capital Management LLC grew its stake in shares of Novartis by 1.7% during the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock valued at $650,000 after acquiring an additional 92 shares during the period. Ascent Group LLC increased its holdings in Novartis by 0.7% in the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company's stock worth $1,709,000 after acquiring an additional 97 shares in the last quarter. Finally, Sage Rhino Capital LLC raised its stake in Novartis by 1.2% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company's stock worth $983,000 after acquiring an additional 99 shares during the period. Institutional investors own 13.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday. The Goldman Sachs Group reiterated a "sell" rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Finally, Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Novartis presently has a consensus rating of "Hold" and a consensus price target of $120.33.

Novartis Stock Performance

NYSE:NVS opened at $130.31 on Wednesday. The company has a market cap of $275.27 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.79 and a beta of 0.64. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The stock's 50 day simple moving average is $125.62 and its two-hundred day simple moving average is $118.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period in the prior year, the company earned $1.97 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

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.

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