Verity & Verity LLC reduced its stake in Novartis AG (NYSE:NVS) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,528 shares of the company’s stock after selling 11,804 shares during the period. Novartis accounts for approximately 2.1% of Verity & Verity LLC’s investment portfolio, making the stock its 12th biggest position. Verity & Verity LLC’s holdings in Novartis were worth $9,280,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NVS. Naples Global Advisors LLC lifted its position in Novartis by 0.6% during the fourth quarter. Naples Global Advisors LLC now owns 20,599 shares of the company’s stock worth $1,815,000 after purchasing an additional 115 shares during the period. Camelot Portfolios LLC lifted its position in Novartis by 1.2% during the fourth quarter. Camelot Portfolios LLC now owns 10,063 shares of the company’s stock worth $863,000 after purchasing an additional 123 shares during the period. Financial Architects Inc lifted its position in Novartis by 0.8% during the fourth quarter. Financial Architects Inc now owns 15,015 shares of the company’s stock worth $1,288,000 after purchasing an additional 125 shares during the period. Legacy Bridge LLC lifted its position in Novartis by 7.5% during the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock worth $177,000 after purchasing an additional 128 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Novartis by 3.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,511 shares of the company’s stock worth $301,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 11.66% of the company’s stock.
NYSE NVS traded up $1.52 during trading on Wednesday, hitting $83.91. 2,351,425 shares of the company’s stock were exchanged, compared to its average volume of 2,545,515. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The company has a market cap of $191.27 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.99 and a beta of 0.66. Novartis AG has a fifty-two week low of $63.60 and a fifty-two week high of $85.08.
Novartis (NYSE:NVS) last issued its earnings results on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.10. The firm had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, sell-side analysts predict that Novartis AG will post 5 earnings per share for the current year.
Several equities research analysts recently weighed in on NVS shares. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley downgraded Novartis from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $87.57.
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Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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