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

Jacobi Capital Management LLC raised its position in shares of Novartis AG (NYSE:NVSGet Rating) by 7.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,429 shares of the company’s stock after acquiring 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 reporting period.

Several other hedge funds also recently modified their holdings of the company. Balentine LLC increased its holdings in shares of Novartis by 49.6% during the first quarter. Balentine LLC now owns 10,672 shares of the company’s stock worth $936,000 after buying an additional 3,538 shares in the last quarter. Richard C. Young & CO. LTD. increased its holdings in shares of Novartis by 6.4% in the first quarter. Richard C. Young & CO. LTD. now owns 140,406 shares of the company’s stock valued at $12,321,000 after purchasing an additional 8,504 shares in the last quarter. Grimes & Company Inc. increased its holdings in shares of Novartis by 53.1% in the first quarter. Grimes & Company Inc. now owns 138,958 shares of the company’s stock valued at $12,193,000 after purchasing an additional 48,186 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Novartis by 42.7% in the first quarter. Quadrant Capital Group LLC now owns 10,148 shares of the company’s stock valued at $890,000 after purchasing an additional 3,038 shares in the last quarter. Finally, Mmbg Investment Advisors CO. increased its holdings in shares of Novartis by 751.5% in the first quarter. Mmbg Investment Advisors CO. now owns 32,324 shares of the company’s stock valued at $8,820,000 after purchasing an additional 28,528 shares in the last quarter. Institutional investors and hedge funds own 9.40% of the company’s stock.

Novartis Trading Up 0.4 %

Shares of NYSE NVS opened at $85.57 on Friday. The company’s fifty day moving average is $85.04 and its 200-day moving average is $86.61. The stock has a market cap of $189.33 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 2.41 and a beta of 0.51. Novartis AG has a twelve month low of $79.09 and a twelve 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.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NVS shares. Wolfe Research lowered shares of Novartis from an “outperform” rating to a “market perform” rating in a report on Monday, May 9th. Barclays raised their price objective on shares of Novartis from CHF 80 to CHF 85 in a research note on Thursday, April 14th. UBS Group raised their price objective on shares of Novartis from CHF 85 to CHF 88 and gave the company a “neutral” rating in a research note on Wednesday, April 27th. Credit Suisse Group raised their price objective on shares of Novartis from CHF 85 to CHF 88 in a research note on Thursday, April 28th. Finally, raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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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