Jacobi Capital Management LLC Has $476,000 Position in Novartis AG (NYSE:NVS)

Jacobi Capital Management LLC raised its holdings in Novartis AG (NYSE:NVSGet Rating) by 7.1% during the first quarter, Holdings Channel.com reports. The fund owned 5,429 shares of the company’s stock after purchasing an additional 359 shares during the period. Jacobi Capital Management LLC’s holdings in Novartis were worth $476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AHL Investment Management Inc. bought a new position in Novartis in the fourth quarter valued at approximately $25,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Novartis in the fourth quarter valued at approximately $32,000. Atwood & Palmer Inc. boosted its stake in Novartis by 400.0% in the first quarter. Atwood & Palmer Inc. now owns 375 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. Allegheny Financial Group LTD bought a new position in Novartis in the fourth quarter valued at approximately $34,000. Finally, DeDora Capital Inc. bought a new position in Novartis in the first quarter valued at approximately $34,000. 9.40% of the stock is owned by institutional investors.

Novartis Trading Up 0.4 %

Shares of NYSE:NVS opened at $85.57 on Friday. Novartis AG has a 12 month low of $79.09 and a 12 month high of $95.17. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $85.04 and its 200 day simple moving average is $86.61. The firm has a market cap of $189.33 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 2.41 and a beta of 0.51.

Novartis (NYSE:NVSGet Rating) last issued its quarterly earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period in the previous year, the business earned $1.64 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Novartis AG will post 6.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Novartis from CHF 80 to CHF 75 in a research note on Wednesday, June 29th. Barclays lifted their price target on shares of Novartis from CHF 80 to CHF 85 in a research report on Thursday, April 14th. raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 14th. Credit Suisse Group lifted their price target on shares of Novartis from CHF 85 to CHF 88 in a research report on Thursday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Novartis from CHF 80 to CHF 81 and gave the stock an “underweight” rating in a research report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and an average price target of $87.33.

Novartis Company Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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