CWA Asset Management Group LLC Purchases Shares of 25,676 Novartis AG (NYSE:NVS)

CWA Asset Management Group LLC purchased a new stake in Novartis AG (NYSE:NVS) during the third quarter, according to its most recent filing with the SEC. The fund purchased 25,676 shares of the company’s stock, valued at approximately $2,953,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Founders Financial Securities LLC increased its holdings in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after buying an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Novartis by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after buying an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after buying an additional 98 shares during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after buying an additional 99 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Novartis stock opened at $106.45 on Friday. The stock has a market cap of $217.58 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm has a 50-day moving average of $114.56 and a two-hundred day moving average of $109.62.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period last year, the firm earned $1.74 earnings per share. On average, research analysts forecast that Novartis AG will post 7.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BMO Capital Markets upped their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group reiterated 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Company 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.