Cable Hill Partners LLC Lowers Position in Novartis AG (NYSE:NVS)

Cable Hill Partners LLC cut its holdings in Novartis AG (NYSE:NVS) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,699 shares of the company’s stock after selling 255 shares during the quarter. Cable Hill Partners LLC’s holdings in Novartis were worth $429,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. HighPoint Advisor Group LLC lifted its stake in Novartis by 0.5% in the second quarter. HighPoint Advisor Group LLC now owns 25,472 shares of the company’s stock worth $2,324,000 after acquiring an additional 118 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Novartis by 4.6% during the second quarter. Cornerstone Wealth Management LLC now owns 2,747 shares of the company’s stock valued at $251,000 after buying an additional 121 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Novartis by 3.7% during the second quarter. Arete Wealth Advisors LLC now owns 3,445 shares of the company’s stock valued at $207,000 after buying an additional 124 shares during the last quarter. Hayek Kallen Investment Management lifted its position in shares of Novartis by 0.3% during the second quarter. Hayek Kallen Investment Management now owns 43,323 shares of the company’s stock valued at $3,953,000 after buying an additional 124 shares during the last quarter. Finally, Pointe Capital Management LLC lifted its position in shares of Novartis by 3.6% during the second quarter. Pointe Capital Management LLC now owns 3,608 shares of the company’s stock valued at $329,000 after buying an additional 125 shares during the last quarter. 9.90% of the stock is owned by institutional investors.

Shares of NYSE NVS traded up $0.21 during midday trading on Thursday, reaching $82.64. 28,037 shares of the stock were exchanged, compared to its average volume of 1,916,302. The firm has a market cap of $184.84 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.07 and a beta of 0.54. Novartis AG has a twelve month low of $77.04 and a twelve month high of $98.52. The firm has a 50-day simple moving average of $87.73 and a two-hundred day simple moving average of $88.99. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.14. Novartis had a net margin of 17.83% and a return on equity of 25.25%. The business had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.41 billion. During the same quarter last year, the company earned $1.36 EPS. The business’s revenue was up 14.2% on a year-over-year basis. Research analysts expect that Novartis AG will post 6.28 EPS for the current fiscal year.

Several research firms have commented on NVS. Deutsche Bank Aktiengesellschaft lowered shares of Novartis from a “hold” rating to a “sell” rating in a research report on Monday, September 20th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Novartis in a research report on Wednesday, July 28th. UBS Group reaffirmed a “buy” rating on shares of Novartis in a research report on Friday, October 8th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating and set a $96.00 price objective for the company. in a research report on Monday, July 26th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Novartis in a research report on Tuesday. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Novartis has a consensus rating of “Hold” and an average target price of $104.33.

About Novartis

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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