Payne Capital LLC Purchases New Stake in Novartis AG $NVS

Payne Capital LLC purchased a new position in shares of Novartis AG (NYSE:NVS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $641,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Novartis by 76.5% during the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after purchasing an additional 2,666 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Novartis by 102.8% during the 1st quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock worth $2,516,000 after buying an additional 11,444 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Novartis during the 1st quarter worth about $1,764,000. Sivia Capital Partners LLC increased its holdings in shares of Novartis by 48.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after acquiring an additional 2,581 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in shares of Novartis by 140.5% during the 2nd quarter. Simplicity Wealth LLC now owns 8,586 shares of the company’s stock worth $1,039,000 after acquiring an additional 5,016 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

NYSE NVS opened at $149.83 on Wednesday. Novartis AG has a 12 month low of $97.71 and a 12 month 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 $316.51 billion, a PE ratio of 20.47, a P/E/G ratio of 1.97 and a beta of 0.50. The company’s 50 day simple moving average is $139.27 and its 200 day simple moving average is $130.20.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NVS shares. Cfra set a $126.00 price target on Novartis and gave the company a “hold” rating in a report on Wednesday, October 29th. TD Cowen reiterated a “hold” rating on shares of Novartis in a report on Monday, November 10th. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Citigroup began coverage on Novartis in a report on Tuesday, January 27th. They set a “buy” rating for the company. Finally, HSBC reissued a “reduce” rating and set a $112.00 price target on shares of Novartis in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $119.75.

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.