Wheatland Advisors Inc. Sells 300 Shares of Novartis AG (NYSE:NVS)

Wheatland Advisors Inc. lessened its holdings in shares of Novartis AG (NYSE:NVS) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,675 shares of the company’s stock after selling 300 shares during the period. Wheatland Advisors Inc.’s holdings in Novartis were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harvest Group Wealth Management LLC bought a new stake in shares of Novartis during the 1st quarter valued at $27,000. Asset Dedication LLC boosted its holdings in shares of Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after buying an additional 151 shares in the last quarter. Vigilant Capital Management LLC bought a new stake in shares of Novartis during the 2nd quarter valued at $37,000. Independence Bank of Kentucky boosted its holdings in shares of Novartis by 50.0% during the 1st quarter. Independence Bank of Kentucky now owns 450 shares of the company’s stock valued at $43,000 after buying an additional 150 shares in the last quarter. Finally, Manchester Financial Inc. bought a new stake in shares of Novartis during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 11.23% of the company’s stock.

Shares of NVS traded down $0.56 during trading hours on Friday, hitting $88.44. The company had a trading volume of 1,922,391 shares, compared to its average volume of 2,001,831. The firm has a fifty day moving average price of $90.91 and a 200-day moving average price of $88.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a market capitalization of $204.19 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.99 and a beta of 0.58. Novartis AG has a 52-week low of $71.40 and a 52-week high of $95.00.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. Novartis’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. Research analysts anticipate that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Several research firms have recently issued reports on NVS. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, July 19th. Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Argus lifted their price target on Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, five 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 company presently has a consensus rating of “Hold” and a consensus target price of $90.63.

Novartis Profile

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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