Columbia Partners L L C Investment Management Decreases Holdings in Novartis AG (NVS)
Columbia Partners L L C Investment Management reduced its position in shares of Novartis AG (NYSE:NVS) by 34.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,334 shares of the company’s stock after selling 5,388 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Novartis AG were worth $887,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NVS. Geode Capital Management LLC boosted its stake in Novartis AG by 19.8% during the 1st quarter. Geode Capital Management LLC now owns 18,918 shares of the company’s stock valued at $1,405,000 after purchasing an additional 3,125 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after acquiring an additional 285 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Novartis AG by 3.4% during the 1st quarter. HighTower Advisors LLC now owns 254,866 shares of the company’s stock worth $18,888,000 after acquiring an additional 8,487 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Novartis AG by 1.7% during the 1st quarter. Macquarie Group Ltd. now owns 996,890 shares of the company’s stock worth $74,039,000 after acquiring an additional 16,341 shares in the last quarter. Finally, Notis McConarty Edward boosted its stake in shares of Novartis AG by 6.1% during the 1st quarter. Notis McConarty Edward now owns 34,903 shares of the company’s stock worth $2,593,000 after acquiring an additional 2,000 shares in the last quarter. 11.00% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the stock a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 26th. Leerink Swann increased their target price on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Finally, Barclays PLC lowered Novartis AG from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Novartis AG has a consensus rating of “Hold” and an average target price of $85.32.
Shares of Novartis AG (NYSE:NVS) traded up $0.96 during trading hours on Friday, hitting $83.98. The company had a trading volume of 1,545,668 shares, compared to its average volume of 2,337,846. Novartis AG has a twelve month low of $66.93 and a twelve month high of $86.90. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $198,662.67, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.72.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts anticipate that Novartis AG will post 4.75 earnings per share for the current fiscal year.
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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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