Novartis AG (NYSE:NVS) Holdings Decreased by Altrius Capital Management Inc

Altrius Capital Management Inc trimmed its stake in shares of Novartis AG (NYSE:NVS) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,438 shares of the company’s stock after selling 3,622 shares during the quarter. Novartis makes up 2.1% of Altrius Capital Management Inc’s investment portfolio, making the stock its 8th largest position. Altrius Capital Management Inc’s holdings in Novartis were worth $8,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Clearstead Trust LLC grew its position in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in shares of Novartis in the 2nd quarter worth approximately $29,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Novartis in the 2nd quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Novartis during the second quarter valued at approximately $30,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Down 0.4 %

Shares of NVS stock traded down $0.37 during mid-day trading on Friday, hitting $103.03. The company’s stock had a trading volume of 372,060 shares, compared to its average volume of 1,340,177. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The business has a 50-day moving average price of $113.41 and a 200 day moving average price of $109.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market cap of $210.59 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.50 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping 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 firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the business earned $1.74 earnings per share. Research analysts predict that Novartis AG will post 7.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $121.50.

Novartis Company 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.