Interchange Capital Partners LLC Has $34,000 Holdings in Novartis AG $NVS

Interchange Capital Partners LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 85.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 280 shares of the company’s stock after selling 1,699 shares during the quarter. Interchange Capital Partners LLC’s holdings in Novartis were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NVS. Brighton Jones LLC increased its holdings in shares of Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after buying an additional 2,666 shares in the last quarter. GAMMA Investing LLC increased its holdings in Novartis by 29.9% in the first quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock valued at $727,000 after purchasing an additional 1,500 shares during the period. Sowell Financial Services LLC acquired a new stake in Novartis in the first quarter valued at $722,000. Sagespring Wealth Partners LLC increased its holdings in Novartis by 67.7% in the first quarter. Sagespring Wealth Partners LLC now owns 5,759 shares of the company’s stock valued at $642,000 after purchasing an additional 2,325 shares during the period. Finally, Grimes & Company Inc. increased its holdings in Novartis by 3.0% in the first quarter. Grimes & Company Inc. now owns 4,622 shares of the company’s stock valued at $515,000 after purchasing an additional 135 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NVS stock opened at $129.98 on Thursday. The stock has a market capitalization of $274.56 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.80 and a beta of 0.64. The company’s 50-day moving average is $125.95 and its 200-day moving average is $118.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. Equities research analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVS. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a report on Friday, August 8th. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. The Goldman Sachs Group restated a “sell” rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.33.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.