Stonebridge Capital Management Inc. cut its holdings in shares of Novartis AG (NYSE:NVS) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,812 shares of the company’s stock after selling 1,773 shares during the quarter. Novartis AG comprises 1.7% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. Stonebridge Capital Management Inc.’s holdings in Novartis AG were worth $4,534,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of NVS. City Holding Co. boosted its holdings in Novartis AG by 4.6% in the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after purchasing an additional 54 shares during the last quarter. WFG Advisors LP boosted its holdings in Novartis AG by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after purchasing an additional 337 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after purchasing an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC boosted its holdings in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares during the last quarter. Finally, Cable Hill Partners LLC boosted its holdings in Novartis AG by 588.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after purchasing an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 10.94% of the company’s stock.
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Shares of Novartis AG (NVS) traded up $0.02 during trading on Monday, hitting $83.72. 135,516 shares of the stock traded hands, compared to its average volume of 2,304,039. Novartis AG has a fifty-two week low of $66.93 and a fifty-two week high of $86.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. The firm has a market cap of $198,000.30, a PE ratio of 17.62, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The business had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts expect that Novartis AG will post 4.75 earnings per share for the current year.
Several research firms have weighed in on NVS. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Tuesday, September 19th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, October 24th. Barclays PLC downgraded shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the company a “hold” rating in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $85.28.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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