Novartis AG $NVS Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lessened its stake in shares of Novartis AG (NYSE:NVS) by 50.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,780 shares of the company’s stock after selling 49,032 shares during the quarter. Novartis comprises about 1.1% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 28th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Novartis were worth $7,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Arlington Trust Co LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $25,000. CrossGen Wealth LLC acquired a new stake in shares of Novartis in the fourth quarter worth $28,000. Bank of Jackson Hole Trust grew its stake in Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 187 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Novartis during the third quarter valued at approximately $33,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in Novartis in the fourth quarter valued at about $34,000. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVS. Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, March 11th. Morgan Stanley increased their price target on shares of Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $141.20.

Novartis Stock Performance

NVS stock opened at $154.07 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. Novartis AG has a twelve month low of $112.34 and a twelve month high of $170.46. The company has a market cap of $293.98 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.75 and a beta of 0.45. The business’s fifty day moving average is $149.35 and its 200-day moving average is $150.16.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. During the same period last year, the company earned $2.28 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Novartis AG will post 8.85 EPS for the current year.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.