Diversify Advisory Services LLC Purchases 470 Shares of Novartis AG (NYSE:NVS) (2024)

Diversify Advisory Services LLC lifted its stake in Novartis AG (NYSE:NVS – Free Report) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,640 shares of the company’s stock after acquiring an additional 470 shares during the quarter. Diversify Advisory Services LLC’s holdings in Novartis were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NVS. International Assets Investment Management LLC increased its position in shares of Novartis by 6,599.3% in the fourth quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock valued at $15,084,000 after acquiring an additional 147,165 shares during the last quarter. Sapient Capital LLC acquired a new position in Novartis during the fourth quarter worth approximately $610,000. Koshinski Asset Management Inc. increased its position in Novartis by 20.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 2,532 shares of the company’s stock worth $256,000 after buying an additional 435 shares during the last quarter. Granite Bay Wealth Management LLC increased its position in Novartis by 159.2% during the fourth quarter. Granite Bay Wealth Management LLC now owns 5,715 shares of the company’s stock worth $554,000 after buying an additional 3,510 shares during the last quarter. Finally, Glassy Mountain Advisors Inc. increased its position in Novartis by 1.7% during the fourth quarter. Glassy Mountain Advisors Inc. now owns 43,243 shares of the company’s stock worth $4,366,000 after buying an additional 703 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. The Goldman Sachs Group started coverage on Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective for the company. Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. Jefferies Financial Group boosted their price objective on Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, BMO Capital Markets boosted their price target on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $118.13.

View Our Latest Stock Report on NVS

Novartis Trading Down 0.4 %

Shares of NVS stock opened at $111.49 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a market cap of $227.89 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.62 and a beta of 0.57. The stock has a 50 day simple moving average of $108.00 and a 200 day simple moving average of $102.53. Novartis AG has a 1 year low of $92.19 and a 1 year high of $113.00.

Novartis (NYSE:NVS – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the previous year, the business earned $1.83 earnings per share. On average, research analysts predict that Novartis AG will post 7.41 earnings per share for the current fiscal year.

Novartis Profile

(Free Report)

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.

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