Envestnet Asset Management Inc. Cuts Stake in Novartis AG (NYSE:NVS)

Envestnet Asset Management Inc. lowered its stake in shares of Novartis AG (NYSE:NVSFree Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,032,130 shares of the company’s stock after selling 17,771 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Novartis worth $205,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NVS. Frazier Financial Advisors LLC acquired a new position in Novartis during the fourth quarter worth about $26,000. Operose Advisors LLC acquired a new position in Novartis during the third quarter worth about $28,000. Planned Solutions Inc. acquired a new position in Novartis during the fourth quarter worth about $31,000. AdvisorNet Financial Inc boosted its position in Novartis by 480.0% during the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Novartis during the third quarter worth about $39,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

NVS has been the topic of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on shares of Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Check Out Our Latest Report on Novartis

Novartis Trading Down 0.7 %

NYSE:NVS traded down $0.71 on Friday, hitting $105.42. The stock had a trading volume of 410,520 shares, compared to its average volume of 1,480,093. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market cap of $215.48 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.62 and a beta of 0.58. The company has a fifty day moving average price of $98.67 and a two-hundred day moving average price of $100.23. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78.

Novartis (NYSE:NVSGet Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.07. The company had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. Equities research analysts expect that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Novartis Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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