Novartis AG (NVS) Position Cut by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC lessened its holdings in shares of Novartis AG (NYSE:NVS) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 25,656 shares of the company’s stock after selling 825 shares during the period. Baker Ellis Asset Management LLC’s holdings in Novartis were worth $2,467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HC Financial Advisors Inc. grew its holdings in Novartis by 5.1% during the third quarter. HC Financial Advisors Inc. now owns 16,934 shares of the company’s stock valued at $1,459,000 after purchasing an additional 816 shares during the period. IFP Advisors Inc grew its holdings in Novartis by 4.3% during the fourth quarter. IFP Advisors Inc now owns 11,448 shares of the company’s stock valued at $976,000 after purchasing an additional 477 shares during the period. Ingalls & Snyder LLC grew its holdings in Novartis by 0.6% during the fourth quarter. Ingalls & Snyder LLC now owns 72,853 shares of the company’s stock valued at $6,252,000 after purchasing an additional 464 shares during the period. Fisher Asset Management LLC grew its holdings in Novartis by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 7,609,632 shares of the company’s stock valued at $652,983,000 after purchasing an additional 184,555 shares during the period. Finally, Cox Capital Mgt LLC boosted its holdings in shares of Novartis by 1.8% in the fourth quarter. Cox Capital Mgt LLC now owns 19,511 shares of the company’s stock valued at $1,686,000 after buying an additional 352 shares during the period. 11.82% of the stock is currently owned by institutional investors.

Novartis stock opened at $87.52 on Monday. The company has a market capitalization of $202.17 billion, a PE ratio of 17.19, a P/E/G ratio of 1.98 and a beta of 0.66. Novartis AG has a twelve month low of $63.60 and a twelve month high of $85.08. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.10. The company had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 earnings per share. As a group, equities research analysts predict that Novartis AG will post 5 EPS for the current fiscal year.

NVS has been the subject of several research analyst reports. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Finally, Morgan Stanley cut shares of Novartis from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $82.50 to $82.52 in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $87.57.

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About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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