ABC Arbitrage SA Makes New Investment in Novartis AG (NYSE:NVS)

ABC Arbitrage SA purchased a new position in Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 203,424 shares of the company’s stock, valued at approximately $19,795,000. Novartis makes up about 2.8% of ABC Arbitrage SA’s portfolio, making the stock its 10th largest holding.

A number of other large investors have also modified their holdings of the stock. Centaurus Financial Inc. raised its position 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 in the last quarter. Clear Harbor Asset Management LLC grew its holdings in Novartis by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares in the last quarter. Allen Wealth Management LLC raised its holdings in shares of Novartis by 1.8% in the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after purchasing an additional 100 shares in the last quarter. WealthPlan Investment Management LLC lifted its position in shares of Novartis by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company’s stock worth $1,092,000 after purchasing an additional 100 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC increased its holdings in Novartis by 1.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,913 shares of the company’s stock valued at $910,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 2.1 %

Shares of Novartis stock opened at $105.43 on Friday. The company’s fifty day moving average is $100.63 and its two-hundred day moving average is $108.33. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 1.04. The company has a market capitalization of $215.50 billion, a P/E ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Analysts forecast that Novartis AG will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. BMO Capital Markets raised their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Morgan Stanley started coverage on shares of Novartis in a report on Wednesday. They issued an “underweight” rating for the company. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.