Novartis AG (NYSE:NVS) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 23.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,150 shares of the company's stock after selling 32,123 shares during the period. Pathstone Holdings LLC's holdings in Novartis were worth $11,864,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Founders Financial Securities LLC boosted its holdings in Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company's stock worth $301,000 after buying an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company's stock worth $241,000 after buying an additional 95 shares during the last quarter. NBC Securities Inc. boosted its holdings in Novartis by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company's stock worth $1,116,000 after buying an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company's stock worth $196,000 after buying an additional 98 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company's stock worth $319,000 after buying an additional 99 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.2 %

Shares of NYSE NVS opened at $103.09 on Thursday. The firm has a market cap of $210.72 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.49 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The business's 50 day moving average is $112.34 and its two-hundred day moving average is $110.05.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Research analysts predict that Novartis AG will post 7.66 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Erste Group Bank reissued a "hold" rating on shares of Novartis in a research note on Tuesday. Bank of America lowered shares of Novartis from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group lowered shares of Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $121.50.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.