Arrowstreet Capital Limited Partnership grew its position in shares of Novartis AG (NYSE:NVS) by 590.7% in the 4th quarter, Holdings Channel reports. The firm owned 159,400 shares of the company’s stock after acquiring an additional 136,321 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Novartis were worth $13,383,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Bank & Trust Co raised its holdings in Novartis by 5.5% during the 3rd quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock worth $11,865,000 after purchasing an additional 7,201 shares during the last quarter. Atlantic Trust Group LLC raised its holdings in Novartis by 54.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 72,427 shares of the company’s stock worth $6,218,000 after purchasing an additional 25,452 shares during the last quarter. Rothschild Investment Corp IL raised its holdings in Novartis by 26.9% during the 4th quarter. Rothschild Investment Corp IL now owns 26,200 shares of the company’s stock worth $2,200,000 after purchasing an additional 5,550 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Novartis during the 3rd quarter worth approximately $1,245,000. Finally, Cedar Hill Associates LLC bought a new position in Novartis during the 3rd quarter worth approximately $248,000. Hedge funds and other institutional investors own 10.96% of the company’s stock.
Novartis AG (NYSE NVS) opened at $86.03 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.21. The stock has a market cap of $224,590.00, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. Novartis AG has a fifty-two week low of $72.67 and a fifty-two week high of $94.19.
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, January 18th. UBS Group restated a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Nord/LB restated a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Finally, Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $85.32.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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