Novartis AG $NVS Stock Position Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in Novartis AG (NYSE:NVS) by 10.1% during the second quarter, HoldingsChannel.com reports. The fund owned 21,886 shares of the company’s stock after selling 2,450 shares during the period. Advisors Asset Management Inc.’s holdings in Novartis were worth $2,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. GFG Capital LLC acquired a new stake in shares of Novartis during the 2nd quarter worth approximately $26,000. WPG Advisers LLC bought a new position in Novartis during the 1st quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Novartis in the second quarter worth $30,000. Barrett & Company Inc. bought a new stake in Novartis in the second quarter valued at $31,000. Finally, MCF Advisors LLC boosted its holdings in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after acquiring an additional 105 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Down 0.2%

Shares of NYSE:NVS opened at $130.23 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 0.88. The stock has a market capitalization of $275.09 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.93 and a beta of 0.60. Novartis AG has a 1-year low of $96.06 and a 1-year high of $134.00. The company has a 50 day moving average price of $128.31 and a 200 day moving average price of $122.51.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). The company had revenue of $14.36 billion during the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. Novartis’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 EPS. On average, research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley upgraded shares of Novartis from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Wednesday. Cfra set a $126.00 target price on shares of Novartis and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $122.33.

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.