American Century Companies Inc. grew its position in shares of Novartis AG (NYSE:NVS – Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,121 shares of the company’s stock after purchasing an additional 25,402 shares during the period. American Century Companies Inc.’s holdings in Novartis were worth $29,911,000 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. Envestnet Asset Management Inc. increased its position in Novartis by 514.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,461,446 shares of the company’s stock worth $112,669,000 after purchasing an additional 7,085,365 shares in the last quarter. Morgan Stanley increased its holdings in shares of Novartis by 6.2% in the 4th quarter. Morgan Stanley now owns 6,488,196 shares of the company’s stock valued at $588,609,000 after acquiring an additional 377,693 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Novartis by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,568,714 shares of the company’s stock valued at $389,426,000 after buying an additional 41,253 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Novartis by 102,209.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,522,057 shares of the company’s stock worth $410,241,000 after purchasing an additional 4,517,637 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Novartis by 0.9% during the first quarter. Wellington Management Group LLP now owns 4,131,935 shares of the company’s stock worth $362,577,000 after acquiring an additional 35,483 shares during the last quarter. 7.00% of the stock is owned by hedge funds and other institutional investors.
Novartis Price Performance
Shares of NVS stock opened at $103.25 on Wednesday. The business has a fifty day simple moving average of $101.45 and a 200 day simple moving average of $96.87. The company has a market cap of $218.85 billion, a P/E ratio of 28.76, a P/E/G ratio of 1.63 and a beta of 0.54. Novartis AG has a twelve month low of $74.09 and a twelve month high of $105.61. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 0.35.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. StockNews.com initiated coverage on Novartis in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. HSBC started coverage on shares of Novartis in a research note on Friday, July 14th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $82.25.
About Novartis
Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.
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