Todd Asset Management LLC Acquires 5,329 Shares of Novartis AG (NYSE:NVS)

Key Points

• Todd Asset Management LLC increased its holdings in Novartis AG by 1.4% during the first quarter, now owning a total of 396,510 shares valued at approximately $44.2 million.
• Wall Street analysts have mixed ratings for Novartis, with an average rating of "Hold" and a price target set at $123.50, reflecting varying expectations for the company's performance.
• Novartis reported earnings of $2.42 per share, exceeding expectations and marking a 12.3% year-over-year revenue increase, totaling $14.05 billion for the quarter.

Todd Asset Management LLC boosted its position in Novartis AG (NYSE:NVS - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 396,510 shares of the company's stock after purchasing an additional 5,329 shares during the quarter. Todd Asset Management LLC's holdings in Novartis were worth $44,203,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NVS. Brighton Jones LLC raised its holdings in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after purchasing an additional 2,666 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Novartis by 34.8% in the fourth quarter. Alliancebernstein L.P. now owns 47,158 shares of the company's stock worth $4,589,000 after acquiring an additional 12,184 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Novartis by 6.8% in the fourth quarter. Russell Investments Group Ltd. now owns 10,070 shares of the company's stock worth $980,000 after acquiring an additional 645 shares in the last quarter. Invesco Ltd. boosted its holdings in Novartis by 18.3% in the fourth quarter. Invesco Ltd. now owns 239,742 shares of the company's stock worth $23,329,000 after acquiring an additional 37,016 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Novartis by 8.0% in the fourth quarter. Legal & General Group Plc now owns 4,586 shares of the company's stock worth $446,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $123.50.

Novartis Stock Performance

Shares of NYSE NVS traded up $1.04 during midday trading on Thursday, hitting $122.24. 1,211,964 shares of the stock traded hands, compared to its average volume of 1,998,309. The firm has a 50-day moving average of $118.45 and a two-hundred day moving average of $112.69. The firm has a market capitalization of $258.22 billion, a P/E ratio of 17.79, a PEG ratio of 1.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a one year low of $96.06 and a one year high of $124.83.

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, beating the consensus estimate of $2.38 by $0.04. The firm had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%. The company's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 EPS. On average, equities analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

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.