Abacus Wealth Partners LLC Buys 16,328 Shares of Novartis AG $NVS

Abacus Wealth Partners LLC grew its stake in shares of Novartis AG (NYSE:NVS) by 924.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,094 shares of the company’s stock after acquiring an additional 16,328 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Novartis were worth $2,495,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NVS. Arlington Trust Co LLC bought a new stake in shares of Novartis during the 4th quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Novartis during the 3rd quarter valued at $31,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Novartis during the 3rd quarter valued at $33,000. South Plains Financial Inc. lifted its position in shares of Novartis by 39.0% during the 3rd quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after buying an additional 76 shares during the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in shares of Novartis during the 4th quarter worth $45,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Novartis stock opened at $148.00 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $282.40 billion, a PE ratio of 21.20, a P/E/G ratio of 2.60 and a beta of 0.46. Novartis AG has a 12 month low of $107.96 and a 12 month high of $170.46. The stock has a 50-day moving average price of $150.98 and a two-hundred day moving average price of $144.91.

Novartis (NYSE:NVS) last posted its earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.12). The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. Novartis’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. Analysts expect that Novartis AG will post 8.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVS shares. Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Wednesday, March 11th. TD Cowen reissued a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. DZ Bank lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Wall Street Zen cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.