Azzad Asset Management Inc. ADV Grows Holdings in Novartis AG (NYSE:NVS)

Azzad Asset Management Inc. ADV grew its holdings in Novartis AG (NYSE:NVS) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,284 shares of the company’s stock after purchasing an additional 161 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Novartis were worth $1,962,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP increased its stake in Novartis by 1.2% in the fourth quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock worth $479,264,000 after purchasing an additional 54,683 shares during the period. Fisher Asset Management LLC increased its stake in shares of Novartis by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company’s stock valued at $145,599,000 after buying an additional 33,791 shares during the period. Natixis Advisors L.P. increased its stake in shares of Novartis by 0.4% during the fourth quarter. Natixis Advisors L.P. now owns 931,127 shares of the company’s stock valued at $94,014,000 after buying an additional 3,270 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in shares of Novartis by 11.3% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 815,804 shares of the company’s stock valued at $82,372,000 after buying an additional 82,909 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in shares of Novartis by 99.0% during the fourth quarter. Morningstar Investment Services LLC now owns 746,836 shares of the company’s stock valued at $74,661,000 after buying an additional 371,590 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

NVS opened at $106.78 on Thursday. The business’s 50-day moving average is $102.63 and its two-hundred day moving average is $101.34. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The firm has a market capitalization of $218.26 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.63 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.07. The company had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. Research analysts anticipate that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the topic of several research reports. BMO Capital Markets raised their price target on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, Jefferies Financial Group raised their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.13.

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.