Brookstone Capital Management Acquires 162 Shares of Novartis AG (NYSE:NVS)

Brookstone Capital Management raised its holdings in shares of Novartis AG (NYSE:NVS) by 1.3% in the 1st quarter, Holdings Channel reports. The firm owned 12,833 shares of the company’s stock after purchasing an additional 162 shares during the quarter. Brookstone Capital Management’s holdings in Novartis were worth $1,241,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aaron Wealth Advisors LLC boosted its position in Novartis by 21.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock valued at $596,000 after buying an additional 1,050 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Novartis by 10.6% during the 4th quarter. First Trust Direct Indexing L.P. now owns 20,560 shares of the company’s stock worth $2,076,000 after purchasing an additional 1,974 shares during the period. Naviter Wealth LLC raised its position in Novartis by 24.5% during the 4th quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after purchasing an additional 8,116 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Novartis by 314.8% in the 4th quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock worth $5,563,000 after buying an additional 41,815 shares during the period. Finally, Prime Capital Investment Advisors LLC grew its position in shares of Novartis by 368.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock worth $2,045,000 after buying an additional 15,927 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on NVS shares. The Goldman Sachs Group began coverage on shares of Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. Finally, BMO Capital Markets lifted their price objective on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.67.

Novartis Stock Down 0.1 %

NYSE:NVS opened at $106.46 on Friday. The company’s 50-day simple moving average is $102.22 and its 200-day simple moving average is $101.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78. The stock has a market capitalization of $217.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.64 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.07. The company had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. On average, equities analysts anticipate that Novartis AG will post 7.27 earnings per share for the current fiscal 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.