Atria Wealth Solutions Inc. Boosts Holdings in Novartis AG (NYSE:NVS)

Atria Wealth Solutions Inc. grew its position in Novartis AG (NYSE:NVS) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,703 shares of the company’s stock after acquiring an additional 3,582 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Novartis were worth $2,696,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Centaurus Financial Inc. lifted its stake in Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after purchasing an additional 98 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Novartis by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after buying an additional 100 shares during the period. Allen Wealth Management LLC lifted its stake in shares of Novartis by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after acquiring an additional 100 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in Novartis by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company’s stock valued at $1,092,000 after acquiring an additional 100 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in Novartis by 1.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,913 shares of the company’s stock valued at $910,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

NYSE NVS opened at $109.42 on Friday. The company has a market cap of $223.65 billion, a PE ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.58. The firm’s 50 day moving average price is $101.24 and its 200-day moving average price is $108.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) 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 forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVS has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, BMO Capital Markets boosted their price target 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 given 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 stock has an average rating of “Hold” and an average price target of $123.38.

Novartis Profile

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.