Novartis AG (NYSE:NVS) Shares Sold by Jolley Asset Management LLC

Jolley Asset Management LLC reduced its position in shares of Novartis AG (NYSE:NVS) by 6.2% in the 4th quarter, Holdings reports. The firm owned 47,697 shares of the company’s stock after selling 3,135 shares during the quarter. Novartis makes up 2.6% of Jolley Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Jolley Asset Management LLC’s holdings in Novartis were worth $4,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisor Partners LLC boosted its stake in Novartis by 3.6% during the fourth quarter. Advisor Partners LLC now owns 20,766 shares of the company’s stock worth $1,964,000 after buying an additional 727 shares during the period. Telos Capital Management Inc. boosted its stake in Novartis by 9.0% during the fourth quarter. Telos Capital Management Inc. now owns 44,307 shares of the company’s stock worth $4,195,000 after buying an additional 3,641 shares during the period. Mckinley Capital Management LLC Delaware boosted its stake in Novartis by 150.7% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 23,601 shares of the company’s stock worth $2,235,000 after buying an additional 14,188 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Novartis during the fourth quarter worth about $357,000. Finally, Professional Advisory Services Inc. boosted its stake in Novartis by 2.4% during the fourth quarter. Professional Advisory Services Inc. now owns 202,954 shares of the company’s stock worth $19,218,000 after buying an additional 4,780 shares during the period. Hedge funds and other institutional investors own 10.61% of the company’s stock.

Shares of NYSE NVS traded down $1.03 during midday trading on Friday, hitting $93.89. The company’s stock had a trading volume of 228,966 shares, compared to its average volume of 1,249,113. The business’s fifty day simple moving average is $94.23 and its two-hundred day simple moving average is $90.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.73. Novartis AG has a 1 year low of $74.70 and a 1 year high of $96.06. The firm has a market capitalization of $218.20 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.97 and a beta of 0.59.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The business had revenue of $12.17 billion during the quarter, compared to analyst estimates of $11.67 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts anticipate that Novartis AG will post 5.23 EPS for the current fiscal year.

Several brokerages have weighed in on NVS. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Cowen reissued a “buy” rating and issued a $100.00 price objective on shares of Novartis in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $93.34.

About Novartis

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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