Belpointe Asset Management LLC Buys Shares of 6,238 Novartis AG $NVS

Belpointe Asset Management LLC purchased a new position in shares of Novartis AG (NYSE:NVS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,238 shares of the company’s stock, valued at approximately $800,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its position in Novartis by 1.7% during the third quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after buying an additional 78 shares during the last quarter. WealthPlan Investment Management LLC boosted its stake in shares of Novartis by 0.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,394 shares of the company’s stock worth $1,205,000 after acquiring an additional 80 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in shares of Novartis by 4.3% during the 3rd quarter. Capital Advisors Inc. OK now owns 2,027 shares of the company’s stock valued at $260,000 after acquiring an additional 83 shares during the last quarter. Glenview Trust co increased its holdings in shares of Novartis by 2.3% during the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock valued at $460,000 after acquiring an additional 84 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the topic of several analyst reports. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Friday, January 16th. JPMorgan Chase & Co. upgraded shares of Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Morgan Stanley restated an “overweight” rating on shares of Novartis in a report on Wednesday, December 3rd. Finally, Cfra set a $126.00 price objective on Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $119.75.

Novartis Stock Performance

NYSE NVS opened at $148.95 on Friday. The company’s fifty day moving average is $137.96 and its two-hundred day moving average is $129.35. Novartis AG has a 52-week low of $97.71 and a 52-week high of $152.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.68. The firm has a market capitalization of $314.64 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.93 and a beta of 0.51.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company had revenue of $14.36 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the company posted $2.06 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.