Ballentine Partners LLC Acquires 340 Shares of Novartis AG (NVS)

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Ballentine Partners LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,969 shares of the company’s stock after buying an additional 340 shares during the quarter. Ballentine Partners LLC’s holdings in Novartis were worth $767,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NVS. Truvestments Capital LLC acquired a new stake in shares of Novartis during the first quarter worth about $25,000. Canton Hathaway LLC acquired a new stake in Novartis in the first quarter valued at about $26,000. Harvest Group Wealth Management LLC acquired a new stake in Novartis in the first quarter valued at about $27,000. AlphaMark Advisors LLC acquired a new stake in Novartis in the fourth quarter valued at about $30,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Novartis in the first quarter valued at about $33,000. Institutional investors and hedge funds own 11.82% of the company’s stock.

Shares of NYSE:NVS opened at $87.52 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.83. The stock has a market capitalization of $202.17 billion, a P/E ratio of 17.19, a PEG ratio of 1.98 and a beta of 0.66. Novartis AG has a 52 week low of $63.60 and a 52 week high of $85.08.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The company had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.76 billion. During the same period last year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Novartis AG will post 5 earnings per share for the current fiscal year.

NVS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Morgan Stanley downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $82.50 to $82.52 in a research report on Wednesday, April 10th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research report on Wednesday, April 24th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Finally, Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $87.57.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

Further Reading: Insider Trading

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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