Ritholtz Wealth Management Has $698,000 Holdings in Novartis AG (NYSE:NVS)

Ritholtz Wealth Management increased its holdings in shares of Novartis AG (NYSE:NVS) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,167 shares of the company’s stock after buying an additional 417 shares during the quarter. Ritholtz Wealth Management’s holdings in Novartis were worth $698,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its holdings in Novartis by 72.0% during the 1st quarter. Krilogy Financial LLC now owns 13,805 shares of the company’s stock worth $1,180,000 after purchasing an additional 5,778 shares in the last quarter. Marco Investment Management LLC increased its holdings in Novartis by 29.6% during the 1st quarter. Marco Investment Management LLC now owns 43,732 shares of the company’s stock worth $3,738,000 after purchasing an additional 10,000 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Novartis by 4.4% during the 4th quarter. First Horizon Advisors Inc. now owns 77,597 shares of the company’s stock worth $7,327,000 after purchasing an additional 3,298 shares in the last quarter. Trust Co. of Virginia VA increased its holdings in Novartis by 0.8% during the 1st quarter. Trust Co. of Virginia VA now owns 98,071 shares of the company’s stock worth $8,383,000 after purchasing an additional 764 shares in the last quarter. Finally, AE Wealth Management LLC increased its holdings in Novartis by 11.5% during the 1st quarter. AE Wealth Management LLC now owns 23,722 shares of the company’s stock worth $2,028,000 after purchasing an additional 2,438 shares in the last quarter. Hedge funds and other institutional investors own 10.11% of the company’s stock.

Novartis stock opened at $93.50 on Friday. Novartis AG has a 52 week low of $77.04 and a 52 week high of $98.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.74 and a quick ratio of 0.50. The company has a market capitalization of $213.99 billion, a PE ratio of 26.87, a P/E/G ratio of 2.18 and a beta of 0.54. The stock’s 50-day simple moving average is $87.96.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Monday, April 26th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.02). Novartis had a return on equity of 24.15% and a net margin of 16.31%. The business had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.63 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Novartis AG will post 6.33 earnings per share for the current year.

Several equities analysts have recently weighed in on the company. Societe Generale restated a “buy” rating on shares of Novartis in a report on Tuesday, March 23rd. Morgan Stanley restated an “overweight” rating on shares of Novartis in a report on Tuesday, May 11th. Argus restated a “hold” rating on shares of Novartis in a report on Tuesday, March 16th. Oddo Bhf upgraded Novartis from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 28th. Finally, Sanford C. Bernstein assumed coverage on Novartis in a report on Monday, March 22nd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $108.50.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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