Novartis AG (NYSE:NVS) Shares Purchased by SageView Advisory Group LLC

SageView Advisory Group LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 30.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,067 shares of the company’s stock after acquiring an additional 718 shares during the quarter. SageView Advisory Group LLC’s holdings in Novartis were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Novartis by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock valued at $479,264,000 after buying an additional 54,683 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Novartis by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company’s stock valued at $145,599,000 after acquiring an additional 33,791 shares in the last quarter. FMR LLC raised its holdings in Novartis by 3.1% during the third quarter. FMR LLC now owns 1,221,589 shares of the company’s stock worth $124,431,000 after purchasing an additional 36,269 shares in the last quarter. Natixis Advisors L.P. lifted its position in Novartis by 0.4% in the fourth quarter. Natixis Advisors L.P. now owns 931,127 shares of the company’s stock valued at $94,014,000 after purchasing an additional 3,270 shares during the period. Finally, Truist Financial Corp boosted its holdings in Novartis by 10.9% in the 3rd quarter. Truist Financial Corp now owns 863,859 shares of the company’s stock valued at $87,993,000 after purchasing an additional 85,075 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVS has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective on the stock. BMO Capital Markets upped their price target on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novartis has an average rating of “Moderate Buy” and an average price target of $116.67.

Novartis Stock Performance

NYSE NVS opened at $104.94 on Thursday. The business has a 50 day moving average price of $100.42 and a 200 day moving average price of $100.76. The company has a market capitalization of $214.50 billion, a P/E ratio of 14.16, a PEG ratio of 1.61 and a beta of 0.58. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The firm had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. Sell-side analysts expect that Novartis AG will post 7.27 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.