Marotta Asset Management Sells 267 Shares of Novartis AG (NYSE:NVS)

Marotta Asset Management decreased its position in shares of Novartis AG (NYSE:NVS) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,003 shares of the company’s stock after selling 267 shares during the quarter. Marotta Asset Management’s holdings in Novartis were worth $680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in Novartis during the 3rd quarter valued at $28,000. Richardson Financial Services Inc. bought a new position in shares of Novartis during the 2nd quarter worth approximately $30,000. Strategic Financial Concepts LLC bought a new stake in Novartis during the second quarter worth $35,000. Fortitude Family Office LLC raised its stake in shares of Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares during the period. Finally, Clean Yield Group purchased a new position in shares of Novartis in the 3rd quarter worth about $43,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.7 %

NYSE NVS traded down $0.70 during trading on Friday, hitting $99.52. The company had a trading volume of 224,352 shares, compared to its average volume of 1,201,215. The company’s fifty day moving average is $101.76 and its 200-day moving average is $109.32. The company has a market cap of $203.42 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a one year low of $92.35 and a one year high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the previous year, the firm posted $1.74 EPS. On average, sell-side analysts predict that Novartis AG will post 7.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets raised their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.50.

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.