Alliance Wealth Advisors LLC UT Makes New $247,000 Investment in Novartis AG (NYSE:NVS)

Alliance Wealth Advisors LLC UT bought a new position in Novartis AG (NYSE:NVS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,536 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors have also made changes to their positions in the company. World Investment Advisors LLC purchased a new position in Novartis during the 3rd quarter worth approximately $30,063,000. Fisher Asset Management LLC boosted its position in shares of Novartis by 15.7% in the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after buying an additional 231,851 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of Novartis during the third quarter valued at $24,096,000. Public Employees Retirement System of Ohio acquired a new position in Novartis during the third quarter valued at $21,078,000. Finally, International Assets Investment Management LLC purchased a new stake in Novartis in the 3rd quarter worth about $19,878,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $105.51 on Wednesday. The stock has a market capitalization of $215.65 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.51 and a beta of 0.58. The business has a 50-day moving average of $100.14 and a two-hundred day moving average of $108.41. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. 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 (NYSE:NVS) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.79%. On average, equities research analysts predict that Novartis AG will post 8.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVS has been the topic of a number of research reports. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. StockNews.com cut Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.38.

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.