Rand Wealth LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 64,067 shares of the company’s stock after buying an additional 3,122 shares during the period. Rand Wealth LLC’s holdings in Novartis AG were worth $5,059,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its stake in Novartis AG by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,545 shares of the company’s stock worth $375,000 after buying an additional 15 shares in the last quarter. PacWest Financial Management Inc raised its stake in Novartis AG by 0.4% in the third quarter. PacWest Financial Management Inc now owns 6,254 shares of the company’s stock worth $494,000 after buying an additional 25 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Novartis AG by 0.9% in the third quarter. Capital Investment Advisors LLC now owns 4,025 shares of the company’s stock worth $318,000 after buying an additional 37 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in Novartis AG by 0.5% in the third quarter. Duncker Streett & Co. Inc. now owns 7,950 shares of the company’s stock worth $628,000 after buying an additional 37 shares in the last quarter. Finally, Wealthsource Partners LLC raised its stake in Novartis AG by 1.3% in the second quarter. Wealthsource Partners LLC now owns 2,907 shares of the company’s stock worth $240,000 after buying an additional 38 shares in the last quarter. 9.86% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Shares of Novartis AG (NYSE:NVS) traded down 0.17% during trading on Tuesday, reaching $68.96. The company’s stock had a trading volume of 1,803,283 shares. The stock’s 50 day moving average price is $72.79 and its 200 day moving average price is $78.41. The company has a market cap of $163.82 billion, a PE ratio of 24.32 and a beta of 0.71. Novartis AG has a 52 week low of $67.28 and a 52 week high of $88.49.

Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Novartis AG had a return on equity of 15.25% and a net margin of 13.98%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the previous year, the business posted $1.27 EPS. Novartis AG’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts predict that Novartis AG will post $4.72 EPS for the current year.

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A number of equities analysts have recently weighed in on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Tuesday. Chardan Capital started coverage on Novartis AG in a report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Group reiterated a “buy” rating on shares of Novartis AG in a report on Sunday, October 16th. TheStreet downgraded Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Argus upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $88.50.

About Novartis AG

Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.

5 Day Chart for NYSE:NVS

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