Team Hewins LLC Buys 498 Shares of Novartis AG (NYSE:NVS)

Team Hewins LLC grew its holdings in Novartis AG (NYSE:NVS) by 15.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,636 shares of the company’s stock after buying an additional 498 shares during the quarter. Team Hewins LLC’s holdings in Novartis were worth $352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Belpointe Asset Management LLC lifted its position in shares of Novartis by 11.2% in the third quarter. Belpointe Asset Management LLC now owns 2,296 shares of the company’s stock worth $234,000 after buying an additional 232 shares in the last quarter. Diversified Trust Co raised its stake in Novartis by 11.2% in the 3rd quarter. Diversified Trust Co now owns 5,120 shares of the company’s stock worth $522,000 after acquiring an additional 517 shares during the last quarter. Verity Asset Management Inc. grew its position in Novartis by 48.0% during the 3rd quarter. Verity Asset Management Inc. now owns 3,177 shares of the company’s stock worth $324,000 after purchasing an additional 1,030 shares during the period. American Century Companies Inc. grew its position in shares of Novartis by 8.4% during the 3rd quarter. American Century Companies Inc. now owns 383,904 shares of the company’s stock valued at $39,104,000 after acquiring an additional 29,631 shares during the period. Finally, Phoenix Holdings Ltd. boosted its holdings in shares of Novartis by 89.0% during the 3rd quarter. Phoenix Holdings Ltd. now owns 10,657 shares of the company’s stock worth $1,096,000 after purchasing an additional 5,019 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVS shares. Jefferies Financial Group upped their price objective on Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 target price for the company. BMO Capital Markets raised their price objective on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Finally, Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.13.

Novartis Price Performance

Novartis stock traded up $0.59 during mid-day trading on Thursday, reaching $110.53. The company had a trading volume of 1,417,858 shares, compared to its average volume of 1,461,968. The company has a market cap of $225.92 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.66 and a beta of 0.57. The business has a fifty day simple moving average of $103.86 and a 200 day simple moving average of $101.73. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $111.70.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.07. The firm had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. On average, equities research analysts predict that Novartis AG will post 7.28 earnings per share for the current 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.