Sequoia Financial Advisors LLC Has $3.65 Million Holdings in Novartis AG (NYSE:NVS)

Sequoia Financial Advisors LLC increased its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,777 shares of the company's stock after buying an additional 5,135 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Novartis were worth $3,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Continuum Advisory LLC lifted its holdings in shares of Novartis by 10.3% during the fourth quarter. Continuum Advisory LLC now owns 1,021 shares of the company's stock valued at $99,000 after acquiring an additional 95 shares during the period. Intergy Private Wealth LLC increased its position in shares of Novartis by 3.9% during the 1st quarter. Intergy Private Wealth LLC now owns 2,757 shares of the company's stock worth $307,000 after purchasing an additional 104 shares in the last quarter. Keudell Morrison Wealth Management lifted its holdings in Novartis by 3.8% during the 1st quarter. Keudell Morrison Wealth Management now owns 2,828 shares of the company's stock valued at $315,000 after purchasing an additional 104 shares during the last quarter. Meridian Wealth Management LLC boosted its position in Novartis by 2.6% in the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company's stock valued at $405,000 after buying an additional 106 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in Novartis by 2.9% during the first quarter. D Orazio & Associates Inc. now owns 3,795 shares of the company's stock worth $423,000 after buying an additional 108 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

Separately, BNP Paribas raised shares of Novartis to a "strong-buy" rating in a 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 stock presently has an average rating of "Hold" and a consensus target price of $123.38.

Novartis Price Performance

NYSE:NVS traded down $0.02 during mid-day trading on Friday, reaching $120.30. 1,540,760 shares of the company were exchanged, compared to its average volume of 1,583,688. Novartis AG has a 12 month low of $96.06 and a 12 month high of $120.92. The stock has a market cap of $254.12 billion, a PE ratio of 18.80, a PEG ratio of 1.73 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $113.95 and a 200 day moving average of $108.14.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.16. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the business posted $1.80 earnings per share. Novartis's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Novartis AG will post 8.45 EPS 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.