Envestnet Asset Management Inc. decreased its stake in shares of Novartis AG (NYSE:NVS) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 541,775 shares of the company’s stock after selling 23,268 shares during the period. Envestnet Asset Management Inc.’s holdings in Novartis were worth $49,469,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its position in Novartis by 119.0% during the second quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock worth $99,000 after purchasing an additional 589 shares during the last quarter. Crawford Investment Counsel Inc. increased its position in Novartis by 8.9% during the first quarter. Crawford Investment Counsel Inc. now owns 2,581 shares of the company’s stock worth $248,000 after purchasing an additional 212 shares during the last quarter. Penbrook Management LLC increased its position in Novartis by 18.2% during the second quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock worth $594,000 after purchasing an additional 1,000 shares during the last quarter. Burns J W & Co. Inc. NY increased its position in Novartis by 1.3% during the second quarter. Burns J W & Co. Inc. NY now owns 15,731 shares of the company’s stock worth $1,436,000 after purchasing an additional 200 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Novartis by 9.1% during the second quarter. Private Trust Co. NA now owns 3,496 shares of the company’s stock worth $319,000 after purchasing an additional 293 shares during the last quarter. 11.87% of the stock is owned by hedge funds and other institutional investors.

NVS has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, July 19th. Kepler Capital Markets lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a research report on Wednesday, April 24th. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Argus upped their price target on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $90.63.

Shares of Novartis stock traded up $0.89 during trading hours on Friday, hitting $89.47. The company’s stock had a trading volume of 1,111,100 shares, compared to its average volume of 2,424,480. Novartis AG has a 1-year low of $71.40 and a 1-year high of $95.00. The business has a fifty day moving average of $91.24 and a 200 day moving average of $88.58. The company has a market capitalization of $204.22 billion, a PE ratio of 17.58, a P/E/G ratio of 1.99 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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