Silvercrest Asset Management Group LLC Buys 750 Shares of Novartis AG (NYSE:NVS)

Silvercrest Asset Management Group LLC increased its stake in Novartis AG (NYSE:NVS) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,266 shares of the company’s stock after buying an additional 750 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Novartis were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NVS. Winslow Evans & Crocker Inc. increased its stake in shares of Novartis by 11.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after purchasing an additional 114 shares in the last quarter. PagnatoKarp Partners LLC increased its stake in shares of Novartis by 0.6% during the second quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock valued at $1,725,000 after purchasing an additional 115 shares in the last quarter. Old Port Advisors increased its stake in shares of Novartis by 4.5% during the second quarter. Old Port Advisors now owns 2,722 shares of the company’s stock valued at $252,000 after purchasing an additional 116 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Novartis by 3.6% during the second quarter. IHT Wealth Management LLC now owns 3,514 shares of the company’s stock valued at $321,000 after acquiring an additional 123 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its position in shares of Novartis by 5.7% during the first quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock valued at $235,000 after acquiring an additional 131 shares in the last quarter. 11.17% of the stock is owned by institutional investors.

NVS stock traded up $0.54 on Friday, hitting $86.89. The company had a trading volume of 116,486 shares, compared to its average volume of 1,559,485. Novartis AG has a 12-month low of $71.86 and a 12-month high of $95.00. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $89.45 and its 200 day simple moving average is $88.48. The stock has a market cap of $198.11 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.95 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14. The business had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. Research analysts forecast that Novartis AG will post 5.15 earnings per share for the current year.

Several brokerages recently weighed in on NVS. Argus raised their price target on shares of Novartis to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $93.29.

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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