Novartis AG (NYSE:NVS) Shares Acquired by Leo Wealth LLC

Leo Wealth LLC increased its stake in shares of Novartis AG (NYSE:NVS) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,939 shares of the company’s stock after buying an additional 1,047 shares during the period. Leo Wealth LLC’s holdings in Novartis were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Novartis by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Novartis by 191.1% in the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after purchasing an additional 1,250,318 shares during the period. Magnetar Financial LLC increased its stake in Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Novartis in the second quarter worth approximately $64,610,000. Finally, Mondrian Investment Partners LTD increased its holdings in shares of Novartis by 40.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock worth $199,819,000 after buying an additional 590,830 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS traded down $1.62 during midday trading on Tuesday, hitting $114.11. 589,268 shares of the stock traded hands, compared to its average volume of 1,337,493. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92. The business’s 50 day moving average price is $116.39 and its two-hundred day moving average price is $108.22. The firm has a market capitalization of $233.24 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and an average target price of $120.70.

About Novartis

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.