Novartis AG (NVS) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in Novartis AG (NYSE:NVS) by 220.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,257 shares of the company’s stock after purchasing an additional 114,318 shares during the period. Alliancebernstein L.P.’s holdings in Novartis were worth $14,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Novartis by 294.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,482 shares of the company’s stock valued at $263,000 after acquiring an additional 2,600 shares in the last quarter. TD Asset Management Inc. lifted its stake in Novartis by 12.3% during the second quarter. TD Asset Management Inc. now owns 187,339 shares of the company’s stock valued at $14,152,000 after purchasing an additional 20,499 shares during the last quarter. First Trust Advisors LP lifted its stake in Novartis by 18.2% during the second quarter. First Trust Advisors LP now owns 309,628 shares of the company’s stock valued at $23,389,000 after purchasing an additional 47,618 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Novartis by 11.5% during the second quarter. CIBC Private Wealth Group LLC now owns 126,131 shares of the company’s stock valued at $9,527,000 after purchasing an additional 12,992 shares during the last quarter. Finally, Gamble Jones Investment Counsel lifted its stake in Novartis by 1.4% during the second quarter. Gamble Jones Investment Counsel now owns 133,537 shares of the company’s stock valued at $10,087,000 after purchasing an additional 1,826 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors.

NVS stock opened at $89.05 on Friday. Novartis AG has a 12 month low of $72.30 and a 12 month high of $94.19. The company has a market cap of $209.68 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. Equities analysts predict that Novartis AG will post 5.17 earnings per share for the current fiscal year.

Several analysts recently commented on NVS shares. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. Bank of America raised shares of Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price for the company in a research note on Monday, September 10th. Citigroup raised shares of Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Exane BNP Paribas raised shares of Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Novartis currently has a consensus rating of “Hold” and an average price target of $85.91.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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