Angeles Wealth Management LLC Sells 1,131 Shares of Novartis AG (NYSE:NVS)

Angeles Wealth Management LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 34.8% during the first quarter, Holdings Channel.com reports. The firm owned 2,118 shares of the company’s stock after selling 1,131 shares during the period. Angeles Wealth Management LLC’s holdings in Novartis were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVS. Castlekeep Investment Advisors LLC acquired a new stake in shares of Novartis in the 4th quarter worth about $109,739,000. GAMMA Investing LLC increased its stake in Novartis by 14,376.4% in the 1st quarter. GAMMA Investing LLC now owns 727,296 shares of the company’s stock valued at $81,079,000 after buying an additional 722,272 shares during the last quarter. Northern Trust Corp increased its stake in Novartis by 23.1% in the 4th quarter. Northern Trust Corp now owns 2,132,591 shares of the company’s stock valued at $207,522,000 after buying an additional 399,862 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Novartis by 16.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock worth $259,706,000 after purchasing an additional 368,171 shares during the last quarter. Finally, Coleford Investment Management Ltd. purchased a new stake in shares of Novartis during the 4th quarter worth approximately $13,824,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.1%

Shares of NYSE:NVS opened at $117.62 on Friday. The firm has a fifty day moving average price of $117.59 and a two-hundred day moving average price of $111.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. Novartis AG has a one year low of $96.06 and a one year high of $124.83. The company has a market cap of $248.46 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.66 and a beta of 0.59.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period last year, the firm earned $1.97 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas upgraded shares of Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Novartis has a consensus rating of “Hold” and a consensus price target of $123.67.

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.