Azzad Asset Management Inc. ADV Cuts Holdings in Novartis AG (NYSE:NVS)

Azzad Asset Management Inc. ADV reduced its position in Novartis AG (NYSE:NVS) by 0.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,327 shares of the company’s stock after selling 106 shares during the period. Novartis accounts for 0.9% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 28th largest holding. Azzad Asset Management Inc. ADV’s holdings in Novartis were worth $3,535,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NVS. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Novartis in the third quarter worth about $28,000. Fortitude Family Office LLC grew its stake in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Novartis in the fourth quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $69,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of Novartis stock opened at $107.73 on Wednesday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The business has a 50-day moving average of $100.36 and a 200 day moving average of $108.37. The stock has a market capitalization of $220.20 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. As a group, sell-side analysts forecast that Novartis AG will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novartis currently has an average rating of “Hold” and a consensus target price 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.