Clear Harbor Asset Management LLC boosted its stake in shares of Novartis AG (NYSE:NVS – Free Report) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 4,423 shares of the company’s stock after purchasing an additional 100 shares during the period. Clear Harbor Asset Management LLC’s holdings in Novartis were worth $509,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Novartis during the second quarter valued at $28,000. Clearstead Trust LLC grew its position in Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares during the last quarter. Lynx Investment Advisory bought a new stake in Novartis during the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. purchased a new position in Novartis in the second quarter worth about $30,000. Finally, Richardson Financial Services Inc. purchased a new position in Novartis in the second quarter worth about $30,000. Institutional investors own 13.12% of the company’s stock.
Novartis Stock Performance
Shares of NYSE NVS opened at $113.79 on Monday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The firm has a market capitalization of $232.59 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $116.42 and a 200 day moving average of $108.74.
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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.
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