Smith Salley & Associates Has $3.09 Million Position in Novartis AG (NVS)

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

Several other hedge funds have also recently added to or reduced their stakes in NVS. Quad Cities Investment Group LLC acquired a new position in Novartis during the 2nd quarter valued at about $139,000. WESPAC Advisors SoCal LLC acquired a new position in Novartis during the 3rd quarter valued at about $152,000. Moneta Group Investment Advisors LLC acquired a new position in Novartis during the 2nd quarter valued at about $174,000. Flagship Harbor Advisors LLC acquired a new position in Novartis during the 2nd quarter valued at about $199,000. Finally, Linscomb & Williams Inc. acquired a new position in Novartis during the 2nd quarter valued at about $200,000. 10.95% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NVS opened at $89.22 on Friday. Novartis AG has a twelve month low of $72.30 and a twelve month high of $94.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96. The stock has a market cap of $206.02 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73.

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

Several equities analysts have commented on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Tuesday. Wolfe Research assumed coverage on shares of Novartis in a research note on Tuesday, October 23rd. They set an “outperform” rating on the stock. Goldman Sachs Group reissued a “neutral” rating on shares of Novartis in a research note on Wednesday, October 10th. Guggenheim assumed coverage on shares of Novartis in a research note on Monday, October 8th. They set 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 target price on the stock in a research note on Tuesday, September 18th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $84.86.

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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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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