Nicholas Hoffman & Company LLC. Sells 171 Shares of Novartis AG (NVS)

Nicholas Hoffman & Company LLC. cut its position in Novartis AG (NYSE:NVS) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 9,078 shares of the company’s stock after selling 171 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Novartis AG were worth $674,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its stake in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock worth $113,000 after buying an additional 511 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Novartis AG during the fourth quarter worth approximately $116,000. Finally, Zions Bancorporation boosted its stake in Novartis AG by 21.0% in the fourth quarter. Zions Bancorporation now owns 1,656 shares of the company’s stock worth $120,000 after buying an additional 287 shares in the last quarter. 11.39% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Novartis AG (NYSE NVS) opened at 80.83 on Friday. The company has a market cap of $191.21 billion, a P/E ratio of 30.39 and a beta of 0.76. The firm has a 50-day moving average price of $80.16 and a 200-day moving average price of $75.15. Novartis AG has a 12-month low of $66.93 and a 12-month high of $83.58.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.59 billion. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 EPS. On average, analysts forecast that Novartis AG will post $4.69 earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on the company. Morgan Stanley reissued a “sell” rating on shares of Novartis AG in a research note on Tuesday, June 6th. Vetr cut Novartis AG from a “strong-buy” rating to a “buy” rating and set a $84.66 price objective on the stock. in a research report on Monday, March 13th. Zacks Investment Research raised Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, March 14th. Finally, BNP Paribas cut Novartis AG from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $83.12.

About Novartis AG

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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