Atomi Financial Group Inc. Acquires 4,190 Shares of Novartis AG (NYSE:NVS)

Atomi Financial Group Inc. raised its stake in shares of Novartis AG (NYSE:NVS) by 42.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,002 shares of the company’s stock after purchasing an additional 4,190 shares during the period. Atomi Financial Group Inc.’s holdings in Novartis were worth $1,491,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NVS. First Trust Direct Indexing L.P. increased its position in shares of Novartis by 10.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 20,560 shares of the company’s stock worth $2,076,000 after buying an additional 1,974 shares during the period. Raymond James & Associates raised its position in shares of Novartis by 1.3% in the 2nd quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock worth $57,127,000 after acquiring an additional 6,767 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Novartis in the 2nd quarter valued at about $15,044,000. Naviter Wealth LLC boosted its position in shares of Novartis by 24.5% during the 4th quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after purchasing an additional 8,116 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Novartis by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock worth $17,485,000 after purchasing an additional 11,080 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Stock Up 0.6 %

Shares of Novartis stock traded up $0.69 during trading hours on Tuesday, reaching $119.84. The company’s stock had a trading volume of 860,921 shares, compared to its average volume of 1,422,191. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock’s fifty day simple moving average is $110.30 and its two-hundred day simple moving average is $103.36. The company has a market capitalization of $244.95 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.69 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $119.91.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the prior year, the business posted $1.83 earnings per share. On average, research analysts forecast that Novartis AG will post 7.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.13.

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.