Smithfield Trust Co. cut its position in Novartis AG (NYSE:NVS) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 6,418 shares of the company’s stock after selling 100 shares during the period. Smithfield Trust Co.’s holdings in Novartis AG were worth $506,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of NVS. Integrated Investment Consultants LLC increased its position in Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $102,000 after buying an additional 74 shares during the last quarter. Whitnell & Co. increased its position in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 180 shares during the last quarter. Iowa State Bank acquired a new position in Novartis AG during the second quarter worth about $122,000. M&R Capital Management Inc. acquired a new position in Novartis AG during the second quarter worth about $122,000. Finally, WFG Advisors LP increased its position in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 133 shares during the last quarter. 9.85% of the stock is currently owned by institutional investors.
Shares of Novartis AG (NYSE:NVS) traded up 1.12% during midday trading on Friday, reaching $69.58. 1,770,452 shares of the company traded hands. The stock has a 50 day moving average price of $73.46 and a 200 day moving average price of $78.44. Novartis AG has a 1-year low of $67.28 and a 1-year high of $88.49. The firm has a market capitalization of $165.29 billion, a PE ratio of 24.53 and a beta of 0.71.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the prior year, the company earned $1.27 EPS. Novartis AG’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that Novartis AG will post $4.72 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a report on Tuesday, September 13th. Societe Generale reaffirmed a “hold” rating on shares of Novartis AG in a report on Thursday, October 27th. Argus raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Thursday, November 10th. Chardan Capital lowered their price target on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, October 10th. Finally, Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $88.50.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.