Novartis AG (NVS) Holdings Lowered by Smith Salley & Associates

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Smith Salley & Associates trimmed its position in Novartis AG (NYSE:NVS) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,843 shares of the company’s stock after selling 2,050 shares during the quarter. Smith Salley & Associates’ holdings in Novartis were worth $3,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Palisade Asset Management LLC raised its position in Novartis by 2.7% during the third quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock valued at $1,906,000 after acquiring an additional 588 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Novartis by 9.2% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock valued at $603,000 after purchasing an additional 590 shares during the period. LeJeune Puetz Investment Counsel LLC raised its position in shares of Novartis by 11.3% in the third quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock valued at $510,000 after purchasing an additional 600 shares during the period. Dempze Nancy E raised its position in shares of Novartis by 2.4% in the third quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock valued at $2,203,000 after purchasing an additional 608 shares during the period. Finally, ST Germain D J Co. Inc. raised its position in shares of Novartis by 14.8% in the second quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after purchasing an additional 615 shares during the period. 10.95% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on NVS. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Tuesday. Wolfe Research began coverage on shares of Novartis in a research report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Goldman Sachs Group reissued a “neutral” rating on shares of Novartis in a research report on Wednesday, October 10th. Guggenheim began coverage on shares of Novartis in a research report on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, September 18th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $84.86.

Shares of Novartis stock opened at $89.22 on Friday. The firm has a market capitalization of $206.02 billion, a PE ratio of 18.55, a P/E/G ratio of 1.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 1.20. Novartis AG has a 1 year low of $72.30 and a 1 year high of $94.19.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. Novartis’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 5.17 earnings per share for the current year.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

Further Reading: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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