Peoples Bank KS Sells 290 Shares of Novartis AG (NYSE:NVS)

Peoples Bank KS lessened its position in shares of Novartis AG (NYSE:NVSFree Report) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,683 shares of the company’s stock after selling 290 shares during the quarter. Peoples Bank KS’s holdings in Novartis were worth $646,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVS. Frazier Financial Advisors LLC purchased a new position in Novartis during the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new position in shares of Novartis in the 4th quarter worth approximately $26,000. Operose Advisors LLC purchased a new position in shares of Novartis in the 3rd quarter worth approximately $28,000. Planned Solutions Inc. purchased a new position in shares of Novartis in the 4th quarter worth approximately $31,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Novartis stock remained flat at $104.93 during trading hours on Tuesday. The company’s stock had a trading volume of 1,051,752 shares, compared to its average volume of 1,484,384. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The firm’s 50-day moving average price is $100.21 and its 200 day moving average price is $100.73. The firm has a market capitalization of $214.48 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. Novartis AG has a twelve month low of $92.19 and a twelve month high of $108.78.

Novartis (NYSE:NVSGet Free Report) last posted its quarterly 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 business had revenue of $11.83 billion for the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. Research analysts forecast that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Read Our Latest Analysis on Novartis

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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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