Novartis AG (NYSE:NVS) Stake Cut by Avitas Wealth Management LLC

Avitas Wealth Management LLC cut its position in shares of Novartis AG (NYSE:NVS) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,442 shares of the company’s stock after selling 744 shares during the quarter. Avitas Wealth Management LLC’s holdings in Novartis were worth $2,484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mattern Wealth Management LLC raised its position in Novartis by 12.3% in the 1st quarter. Mattern Wealth Management LLC now owns 11,400 shares of the company’s stock valued at $940,000 after purchasing an additional 1,245 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Novartis by 2.6% in the 1st quarter. EP Wealth Advisors LLC now owns 7,949 shares of the company’s stock valued at $655,000 after buying an additional 202 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Novartis by 22.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 81,921 shares of the company’s stock valued at $6,754,000 after buying an additional 14,901 shares during the period. Capital World Investors raised its position in shares of Novartis by 68.7% during the first quarter. Capital World Investors now owns 336,883 shares of the company’s stock worth $27,770,000 after acquiring an additional 137,138 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Novartis by 255.0% during the first quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the company’s stock valued at $362,000 after acquiring an additional 3,152 shares during the period. Hedge funds and other institutional investors own 10.80% of the company’s stock.

NVS traded down $2.09 during mid-day trading on Friday, hitting $82.14. The stock had a trading volume of 2,341,202 shares, compared to its average volume of 1,477,156. The stock’s fifty day simple moving average is $87.16 and its 200-day simple moving average is $87.43. The firm has a market capitalization of $187.99 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.77 and a beta of 0.50. Novartis AG has a 1-year low of $69.18 and a 1-year high of $99.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.81 and a quick ratio of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.05. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The business had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the business posted $1.34 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts expect that Novartis AG will post 5.67 earnings per share for the current fiscal year.

NVS has been the subject of several recent research reports. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Monday, May 11th. Morgan Stanley restated an “equal weight” rating on shares of Novartis in a report on Tuesday, July 28th. Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Wednesday, April 29th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research note on Wednesday, April 29th. Finally, ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.00.

Novartis Company 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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