Sequoia Financial Advisors LLC Lowers Position in Novartis AG (NYSE:NVS)

Sequoia Financial Advisors LLC lessened its stake in Novartis AG (NYSE:NVSFree Report) by 35.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,311 shares of the company’s stock after selling 13,796 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Novartis were worth $2,448,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVS. Morningstar Investment Services LLC lifted its holdings in shares of Novartis by 99.0% in the fourth quarter. Morningstar Investment Services LLC now owns 746,836 shares of the company’s stock worth $74,661,000 after buying an additional 371,590 shares in the last quarter. Pacer Advisors Inc. raised its stake in Novartis by 1,936.7% during the fourth quarter. Pacer Advisors Inc. now owns 387,820 shares of the company’s stock valued at $39,158,000 after purchasing an additional 368,778 shares in the last quarter. First Financial Bankshares Inc purchased a new stake in Novartis during the fourth quarter valued at $32,003,000. International Assets Investment Management LLC raised its stake in Novartis by 6,599.3% during the fourth quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock valued at $15,084,000 after purchasing an additional 147,165 shares in the last quarter. Finally, Creative Planning raised its stake in Novartis by 48.6% during the third quarter. Creative Planning now owns 447,582 shares of the company’s stock valued at $45,591,000 after purchasing an additional 146,327 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 1.3 %

Shares of NVS opened at $108.13 on Friday. The company’s fifty day simple moving average is $103.17 and its 200-day simple moving average is $101.51. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The company has a market cap of $221.02 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.66 and a beta of 0.57. Novartis AG has a twelve month low of $92.19 and a twelve month high of $108.78.

Novartis (NYSE:NVSGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. The firm had revenue of $11.83 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. As a group, analysts expect that Novartis AG will post 7.28 EPS for the current year.

Wall Street Analysts Forecast Growth

NVS has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. BMO Capital Markets increased their target price on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group increased their target price on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $118.13.

View Our Latest Research Report on NVS

About Novartis

(Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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