Avidian Wealth Enterprises LLC Has $726,000 Stake in Novartis AG (NYSE:NVS)

Avidian Wealth Enterprises LLC lowered its stake in Novartis AG (NYSE:NVS) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,459 shares of the company’s stock after selling 454 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Novartis were worth $726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVS. Union Bancaire Privee UBP SA acquired a new stake in Novartis in the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new position in Novartis during the third quarter valued at approximately $28,000. Fortitude Family Office LLC raised its position in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after purchasing an additional 267 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Novartis in the fourth quarter worth $55,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Novartis during the 4th quarter worth $69,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NVS. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Morgan Stanley initiated coverage on Novartis in a research note on Wednesday. They set an “underweight” rating for the company. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Finally, BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Price Performance

Shares of NVS stock opened at $106.98 on Thursday. The company has a market capitalization of $218.67 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The stock has a 50 day moving average of $100.43 and a two-hundred day moving average of $108.35.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, equities analysts expect that Novartis AG will post 8.42 EPS for the current year.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.