ERTS Wealth Advisors LLC cut its position in Novartis AG (NYSE:NVS) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,478 shares of the company’s stock after selling 240 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Novartis were worth $592,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Asset Dedication LLC raised its stake in shares of Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Novartis by 795.8% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock valued at $27,000 after purchasing an additional 2,443 shares during the period. Vigilant Capital Management LLC bought a new stake in shares of Novartis during the 2nd quarter valued at $37,000. Manchester Financial Inc. bought a new stake in shares of Novartis during the 2nd quarter valued at $45,000. Finally, Truvestments Capital LLC raised its stake in shares of Novartis by 106.1% during the 2nd quarter. Truvestments Capital LLC now owns 540 shares of the company’s stock valued at $49,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 11.21% of the company’s stock.
Shares of NVS traded down $1.97 during midday trading on Friday, reaching $87.52. The stock had a trading volume of 896,458 shares, compared to its average volume of 1,423,010. The company’s 50-day moving average is $90.27 and its 200 day moving average is $88.64. Novartis AG has a 12-month low of $71.86 and a 12-month high of $95.00. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $205.32 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58.
Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the business earned $1.29 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts forecast that Novartis AG will post 5.15 EPS for the current fiscal year.
Several equities analysts recently commented on NVS shares. Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research report on Friday, July 5th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Finally, Argus boosted their target price on Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Novartis currently has an average rating of “Hold” and an average target price of $93.29.
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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