Novartis AG (NYSE:NVS) Shares Sold by CFO4Life Group LLC

CFO4Life Group LLC trimmed its stake in shares of Novartis AG (NYSE:NVS) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,406 shares of the company’s stock after selling 609 shares during the quarter. CFO4Life Group LLC’s holdings in Novartis were worth $620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Aaron Wealth Advisors LLC lifted its holdings in Novartis by 21.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after buying an additional 1,050 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Novartis by 10.6% in the 4th quarter. First Trust Direct Indexing L.P. now owns 20,560 shares of the company’s stock valued at $2,076,000 after purchasing an additional 1,974 shares during the last quarter. Naviter Wealth LLC lifted its holdings in shares of Novartis by 24.5% in the 4th quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after purchasing an additional 8,116 shares during the last quarter. TD Asset Management Inc increased its position in Novartis by 314.8% in the 4th quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock valued at $5,563,000 after acquiring an additional 41,815 shares during the period. Finally, FORA Capital LLC acquired a new position in Novartis in the 1st quarter valued at about $2,968,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS traded up $1.72 during mid-day trading on Friday, reaching $112.22. 1,010,664 shares of the company’s stock traded hands, compared to its average volume of 1,462,935. The business’s 50-day moving average price is $104.12 and its 200-day moving average price is $101.80. The stock has a market capitalization of $229.38 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. Novartis AG has a 12 month low of $92.19 and a 12 month high of $112.48.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The business had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Equities analysts predict that Novartis AG will post 7.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent analyst reports. Barclays upgraded Novartis to a “strong sell” rating in a research report on Monday, June 24th. BMO Capital Markets upped their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Jefferies Financial Group increased their target price on Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $118.13.

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.