SOA Wealth Advisors LLC. Buys 14,416 Shares of Novartis AG $NVS

Key Points

• SOA Wealth Advisors increased its Novartis stake by 4,316.2% in the second quarter, purchasing 14,416 additional shares and bringing its holdings to 14,750 shares valued at approximately $2.31 million.
• Several other institutional investors also raised their Novartis positions, while institutions collectively owned 13.12% of the company’s stock.
• Novartis shares opened at $152.35, down 1.5%, despite reporting $2.41 in quarterly EPS and $14.95 billion in revenue. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $141.20 average price target.

SOA Wealth Advisors LLC. boosted its stake in Novartis AG (NYSE:NVS - Free Report) by 4,316.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,750 shares of the company's stock after purchasing an additional 14,416 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Novartis were worth $2,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in Novartis by 14.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 113,737 shares of the company's stock worth $15,681,000 after buying an additional 14,352 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Novartis by 36.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 14,815 shares of the company's stock worth $2,043,000 after buying an additional 3,967 shares during the last quarter. Truist Financial Corp lifted its position in shares of Novartis by 6.6% in the fourth quarter. Truist Financial Corp now owns 887,296 shares of the company's stock worth $122,332,000 after buying an additional 54,682 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Novartis by 68.2% during the 4th quarter. Evergreen Capital Management LLC now owns 47,245 shares of the company's stock worth $6,514,000 after acquiring an additional 19,155 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Novartis by 76.5% during the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after acquiring an additional 2,666 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Stock Down 1.5%

Shares of NVS stock opened at $152.35 on Thursday. Novartis AG has a 12 month low of $119.97 and a 12 month high of $170.46. The firm has a market cap of $290.71 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.45. The stock has a 50 day moving average of $153.61 and a 200-day moving average of $153.38. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion for the quarter. On average, equities analysts predict that Novartis AG will post 8.85 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NVS shares. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a research note on Friday, July 24th. Citigroup restated a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

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