Hartford Funds Management Co LLC Grows Holdings in Novartis AG (NYSE:NVS)

Hartford Funds Management Co LLC raised its position in Novartis AG (NYSE:NVS) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,245 shares of the company’s stock after buying an additional 633 shares during the period. Hartford Funds Management Co LLC’s holdings in Novartis were worth $705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Centaurus Financial Inc. boosted its holdings in Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after purchasing an additional 98 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in Novartis by 1.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company’s stock valued at $1,092,000 after purchasing an additional 100 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in Novartis by 0.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock valued at $1,254,000 after purchasing an additional 100 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Novartis by 0.6% in the 4th quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock valued at $1,623,000 after purchasing an additional 101 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its holdings 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 purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS opened at $113.00 on Friday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm’s 50 day moving average price is $103.67 and its 200 day moving average price is $108.02. The company has a market cap of $230.97 billion, a P/E ratio of 19.22, a PEG ratio of 1.70 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in 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 restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus 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.