Cascade Investment Advisors Inc. Raises Position in Novartis AG (NYSE:NVS)

Cascade Investment Advisors Inc. grew its position in Novartis AG (NYSE:NVSGet Rating) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,440 shares of the company’s stock after purchasing an additional 970 shares during the quarter. Novartis accounts for approximately 1.2% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 12th biggest holding. Cascade Investment Advisors Inc.’s holdings in Novartis were worth $2,050,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NVS. AHL Investment Management Inc. purchased a new position in shares of Novartis during the fourth quarter valued at approximately $25,000. Arlington Partners LLC purchased a new position in shares of Novartis during the fourth quarter valued at approximately $27,000. PSI Advisors LLC purchased a new position in shares of Novartis during the third quarter valued at approximately $29,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Novartis during the fourth quarter valued at approximately $32,000. Finally, Allegheny Financial Group LTD purchased a new position in shares of Novartis during the fourth quarter valued at approximately $34,000. 9.40% of the stock is owned by institutional investors and hedge funds.

Shares of NVS traded up $0.44 during mid-day trading on Friday, reaching $85.82. The stock had a trading volume of 2,519,380 shares, compared to its average volume of 2,351,205. The firm has a market cap of $191.96 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 2.45 and a beta of 0.52. Novartis AG has a 12 month low of $79.09 and a 12 month high of $95.17. The business has a fifty day moving average of $87.69 and a 200 day moving average of $85.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.01 and a current ratio of 1.25.

Novartis (NYSE:NVSGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. The business had revenue of $12.53 billion during the quarter, compared to analyst estimates of $12.61 billion. Novartis had a net margin of 46.47% and a return on equity of 23.16%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. On average, research analysts forecast that Novartis AG will post 6.07 EPS for the current fiscal year.

NVS has been the subject of several research reports. Stifel Nicolaus initiated coverage on shares of Novartis in a report on Monday, February 28th. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on shares of Novartis from CHF 85 to CHF 88 in a research report on Thursday, April 28th. StockNews.com started coverage on shares of Novartis in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Morgan Stanley boosted their target price on shares of Novartis from CHF 90 to CHF 94 in a research report on Friday, May 6th. Finally, upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.50.

Novartis Profile (Get Rating)

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, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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