Optimist Retirement Group LLC Buys Shares of 19,147 Novartis AG (NYSE:NVS)

Optimist Retirement Group LLC purchased a new position in shares of Novartis AG (NYSE:NVS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,147 shares of the company’s stock, valued at approximately $2,038,000. Novartis accounts for about 1.1% of Optimist Retirement Group LLC’s portfolio, making the stock its 27th largest position.

Several other large investors have also made changes to their positions in NVS. Russell Investments Group Ltd. increased its stake in shares of Novartis by 36.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,488 shares of the company’s stock valued at $352,000 after purchasing an additional 933 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in Novartis by 12.3% in the fourth quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock valued at $253,000 after buying an additional 275 shares in the last quarter. BNP Paribas Financial Markets grew its position in Novartis by 1,345.3% in the fourth quarter. BNP Paribas Financial Markets now owns 8,036 shares of the company’s stock valued at $811,000 after acquiring an additional 7,480 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Novartis by 29.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,580 shares of the company’s stock worth $270,000 after acquiring an additional 585 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in Novartis by 8.2% during the fourth quarter. Independent Advisor Alliance now owns 4,598 shares of the company’s stock worth $464,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 0.3 %

NYSE NVS opened at $115.99 on Thursday. The firm has a market capitalization of $237.08 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. The business’s 50-day moving average price is $114.03 and its two-hundred day moving average price is $105.28. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter in the prior year, the firm posted $1.83 EPS. On average, analysts expect that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Barclays raised Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $120.70.

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.