14,141 Shares in Novartis AG $NVS Acquired by Wellington Capital Management Inc.

Wellington Capital Management Inc. purchased a new stake in Novartis AG (NYSE:NVS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,141 shares of the company’s stock, valued at approximately $1,711,000. Novartis makes up about 2.4% of Wellington Capital Management Inc.’s holdings, making the stock its 10th biggest position.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Novartis by 76.5% in 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Novartis by 12.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 185,603 shares of the company’s stock worth $20,691,000 after buying an additional 20,161 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Novartis by 5.2% in the first quarter. Deutsche Bank AG now owns 51,042 shares of the company’s stock valued at $5,690,000 after acquiring an additional 2,500 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Novartis by 69.3% in the 1st quarter. Russell Investments Group Ltd. now owns 17,047 shares of the company’s stock worth $1,900,000 after acquiring an additional 6,977 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Novartis by 10.6% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 54,162 shares of the company’s stock worth $6,038,000 after acquiring an additional 5,175 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Novartis stock opened at $132.50 on Friday. Novartis AG has a 1 year low of $96.06 and a 1 year high of $134.24. The company’s 50-day moving average is $129.41 and its two-hundred day moving average is $124.07. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The company has a market cap of $279.90 billion, a PE ratio of 18.10, a PEG ratio of 1.87 and a beta of 0.52.

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

Analyst Ratings Changes

A number of equities analysts have commented on NVS shares. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Monday, December 8th. Morgan Stanley restated an “overweight” rating on shares of Novartis in a research report on Wednesday, December 3rd. Bank of America upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. Finally, HC Wainwright lowered shares of Novartis to a “neutral” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average price target of $119.75.

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.