Cambridge Investment Research Advisors Inc. trimmed its position in shares of Novartis AG (NYSE:NVS – Free Report) by 44.3% during the first quarter, Holdings Channel reports. The firm owned 58,465 shares of the company’s stock after selling 46,462 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Novartis were worth $6,518,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of NVS. JPMorgan Chase & Co. boosted its position in shares of Novartis by 35.6% in the 4th quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock worth $41,176,000 after buying an additional 111,066 shares in the last quarter. Altrius Capital Management Inc lifted its holdings in shares of Novartis by 4.5% in the fourth quarter. Altrius Capital Management Inc now owns 77,783 shares of the company’s stock valued at $7,569,000 after purchasing an additional 3,345 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Novartis in the fourth quarter valued at about $225,000. Charles Schwab Investment Management Inc. grew its position in shares of Novartis by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,442 shares of the company’s stock valued at $16,099,000 after purchasing an additional 8,186 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Novartis during the 4th quarter worth approximately $9,365,000. Institutional investors and hedge funds own 13.12% of the company’s stock.
Novartis Stock Up 2.0%
Shares of NYSE NVS opened at $120.36 on Friday. The firm has a market cap of $254.24 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.61 and a current ratio of 0.79. Novartis AG has a 1 year low of $96.06 and a 1 year high of $120.92. The firm’s 50 day moving average price is $113.76 and its 200 day moving average price is $107.94.
Wall Street Analyst Weigh In
Separately, BNP Paribas upgraded Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus target price of $123.38.
Check Out Our Latest Report on NVS
Novartis Profile
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.
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