HHM Wealth Advisors LLC Boosts Stock Holdings in Novartis AG (NYSE:NVS)

HHM Wealth Advisors LLC raised its position in shares of Novartis AG (NYSE:NVS) by 199.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,502 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. HHM Wealth Advisors LLC’s holdings in Novartis were worth $146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new position in Novartis in the 3rd quarter valued at $28,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis in the fourth quarter valued at about $27,000. Fortitude Family Office LLC lifted its stake in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group acquired a new position in Novartis during the third quarter worth about $43,000. Finally, Brooklyn Investment Group purchased a new stake in Novartis during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets upped their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.38.

Novartis Stock Performance

Shares of Novartis stock opened at $105.54 on Tuesday. The firm has a market cap of $215.72 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The business’s fifty day simple moving average is $100.10 and its 200-day simple moving average is $108.43.

Novartis (NYSE:NVS) last posted its earnings results 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 net margin of 23.56% and a return on equity of 37.79%. Equities analysts forecast that Novartis AG will post 8.34 earnings per share for the current year.

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.