Professional Advisory Services Inc. Has $18.19 Million Stake in Novartis AG (NYSE:NVS)

Professional Advisory Services Inc. cut its stake in Novartis AG (NYSE:NVS) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,224 shares of the company’s stock after selling 16,097 shares during the period. Novartis makes up approximately 3.5% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 10th biggest position. Professional Advisory Services Inc.’s holdings in Novartis were worth $18,191,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVS. Truvestments Capital LLC bought a new stake in Novartis during the first quarter worth approximately $25,000. Harvest Group Wealth Management LLC bought a new stake in Novartis during the first quarter worth approximately $27,000. Asset Dedication LLC boosted its holdings in Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after buying an additional 151 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in Novartis during the first quarter worth approximately $33,000. Finally, Camarda Financial Advisors LLC bought a new stake in Novartis during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 11.85% of the company’s stock.

Novartis stock traded down $0.41 during midday trading on Friday, reaching $90.82. The stock had a trading volume of 1,407,223 shares, compared to its average volume of 2,763,338. The firm has a fifty day moving average of $91.52. Novartis AG has a twelve month low of $71.33 and a twelve month high of $95.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The firm has a market cap of $203.73 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Novartis AG will post 5.06 EPS for the current fiscal year.

A number of analysts recently weighed in on NVS shares. Argus raised their target price on shares of Novartis to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. 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 research note on Wednesday, April 24th. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research note on Friday, July 5th. Finally, Zacks Investment Research lowered shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $90.63.

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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