Earnest Partners LLC lowered its stake in Novartis AG (NYSE:NVS) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,006,267 shares of the company’s stock after selling 43,791 shares during the quarter. Novartis comprises approximately 1.7% of Earnest Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Earnest Partners LLC owned 0.08% of Novartis worth $172,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Farr Miller & Washington LLC DC increased its holdings in shares of Novartis by 0.3% in the second quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock valued at $247,000 after purchasing an additional 10 shares during the last quarter. FCG Advisors LLC grew its stake in shares of Novartis by 0.3% in the second quarter. FCG Advisors LLC now owns 4,271 shares of the company’s stock valued at $357,000 after acquiring an additional 12 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Novartis by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock valued at $375,000 after acquiring an additional 31 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Novartis by 1.1% in the second quarter. Brookstone Capital Management now owns 2,930 shares of the company’s stock valued at $245,000 after acquiring an additional 31 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. grew its stake in shares of Novartis by 1.0% in the second quarter. Newman Dignan & Sheerar Inc. now owns 4,027 shares of the company’s stock valued at $336,000 after acquiring an additional 40 shares in the last quarter. 10.87% of the stock is currently owned by hedge funds and other institutional investors.

Novartis AG (NVS) opened at $83.96 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 52 week low of $69.01 and a 52 week high of $86.90. The firm has a market capitalization of $196,060.50, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.73.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. Novartis 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 analysts’ expectations of $12.21 billion. During the same period in the previous year, the business posted $1.23 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities research analysts anticipate that Novartis AG will post 4.75 earnings per share for the current year.

NVS has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, September 19th. BidaskClub raised shares of Novartis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Leerink Swann increased their target price on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.32.

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About Novartis

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.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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