Brooklyn Investment Group Invests $55,000 in Novartis AG (NYSE:NVS)

Brooklyn Investment Group purchased a new stake in Novartis AG (NYSE:NVS) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 563 shares of the company’s stock, valued at approximately $55,000.

A number of other large investors have also recently added to or reduced their stakes in NVS. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC raised its stake in Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group bought a new position in Novartis during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc grew its position in shares of Novartis by 782.0% in the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after acquiring an additional 696 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of Novartis by 280.5% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after acquiring an additional 519 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Trading Down 0.4 %

Novartis stock opened at $97.51 on Monday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $199.30 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. The firm has a 50-day moving average price of $100.61 and a two-hundred day moving average price of $109.01.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the prior year, the company posted $1.74 EPS. Sell-side analysts expect that Novartis AG will post 7.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets raised their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average price target of $121.50.

Novartis Company Profile

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.