Mid Atlantic Financial Management Inc. ADV Sells 1,278 Shares of Novartis AG (NVS)

Mid Atlantic Financial Management Inc. ADV decreased its holdings in shares of Novartis AG (NYSE:NVS) by 17.2% in the 1st quarter, Holdings Channel reports. The firm owned 6,149 shares of the company’s stock after selling 1,278 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Novartis were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NVS. Naples Global Advisors LLC boosted its holdings in shares of Novartis by 0.6% during the fourth quarter. Naples Global Advisors LLC now owns 20,599 shares of the company’s stock valued at $1,815,000 after acquiring an additional 115 shares during the period. Camelot Portfolios LLC lifted its holdings in Novartis by 1.2% in the fourth quarter. Camelot Portfolios LLC now owns 10,063 shares of the company’s stock worth $863,000 after purchasing an additional 123 shares during the period. Financial Architects Inc lifted its holdings in Novartis by 0.8% in the fourth quarter. Financial Architects Inc now owns 15,015 shares of the company’s stock worth $1,288,000 after purchasing an additional 125 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Novartis by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock worth $1,022,000 after purchasing an additional 125 shares during the period. Finally, Legacy Bridge LLC lifted its holdings in Novartis by 7.5% in the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock worth $177,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 11.66% of the company’s stock.

Shares of Novartis stock opened at $82.70 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. Novartis AG has a 52 week low of $63.60 and a 52 week high of $85.08. The stock has a market capitalization of $191.04 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.99 and a beta of 0.66.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion for the quarter, compared to analysts’ expectations of $11.76 billion. During the same period in the previous year, the business earned $1.28 earnings per share. Novartis’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that Novartis AG will post 5 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a report on Wednesday, April 24th. Morgan Stanley downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $82.50 to $82.52 in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.57.

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Novartis Profile

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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