Hickory Asset Management Inc. Invests $349,000 in Novartis AG (NYSE:NVS)

Hickory Asset Management Inc. bought a new position in shares of Novartis AG (NYSE:NVS) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,582 shares of the company’s stock, valued at approximately $349,000.

Several other large investors also recently added to or reduced their stakes in NVS. Creative Planning increased its holdings in Novartis by 4.1% in the 3rd quarter. Creative Planning now owns 344,951 shares of the company’s stock worth $39,676,000 after acquiring an additional 13,486 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Novartis by 5.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,659 shares of the company’s stock worth $306,000 after acquiring an additional 145 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Novartis by 6.1% in the 3rd quarter. Global Retirement Partners LLC now owns 6,864 shares of the company’s stock worth $789,000 after acquiring an additional 394 shares during the last quarter. Greenup Street Wealth Management LLC increased its holdings in Novartis by 6.2% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 35,979 shares of the company’s stock worth $4,138,000 after acquiring an additional 2,111 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in Novartis by 0.9% in the 3rd quarter. Cardinal Capital Management now owns 47,319 shares of the company’s stock worth $5,443,000 after acquiring an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 2.1 %

Shares of NYSE NVS opened at $105.43 on Friday. The business has a 50-day moving average of $100.63 and a 200-day moving average of $108.33. The firm has a market capitalization of $215.50 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.58. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. 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 (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts expect that Novartis AG will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVS. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Morgan Stanley began coverage on Novartis in a report on Wednesday. They set an “underweight” rating for the company. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, BMO Capital Markets lifted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.38.

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.