Carnegie Capital Asset Management LLC Has $1.01 Million Stake in Novartis AG (NYSE:NVS)

Carnegie Capital Asset Management LLC decreased its position in Novartis AG (NYSE:NVSGet Rating) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,116 shares of the company’s stock after selling 779 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Novartis were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atwood & Palmer Inc. increased its position in shares of Novartis by 400.0% in the first quarter. Atwood & Palmer Inc. now owns 375 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. DeDora Capital Inc. acquired a new stake in shares of Novartis in the first quarter valued at about $34,000. Tyler Stone Wealth Management acquired a new stake in shares of Novartis in the fourth quarter valued at about $39,000. Herold Advisors Inc. acquired a new stake in shares of Novartis in the first quarter valued at about $43,000. Finally, Quent Capital LLC acquired a new stake in shares of Novartis in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 9.14% of the company’s stock.

Novartis Trading Down 0.5 %

Shares of NYSE:NVS opened at $77.14 on Friday. Novartis AG has a 12-month low of $76.26 and a 12-month high of $94.26. The stock has a market cap of $170.68 billion, a PE ratio of 7.54, a P/E/G ratio of 2.19 and a beta of 0.53. The business has a 50 day moving average of $83.51 and a 200-day moving average of $85.71. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35.

Novartis (NYSE:NVSGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.05. The business had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, equities research analysts forecast that Novartis AG will post 6.06 earnings per share for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of a number of recent research reports. Credit Suisse Group downgraded Novartis from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 15th. JPMorgan Chase & Co. boosted their price target on Novartis from CHF 80 to CHF 81 and gave the stock an “underweight” rating in a research report on Wednesday, July 20th. Oppenheimer downgraded Novartis from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. Morgan Stanley lowered their price target on Novartis from CHF 97 to CHF 88 in a research report on Thursday, September 8th. Finally, Berenberg Bank downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.00.

About Novartis

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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