Bartlett & CO. Wealth Management LLC Has $9.84 Million Holdings in Novartis AG (NYSE:NVS)

Bartlett & CO. Wealth Management LLC trimmed its stake in Novartis AG (NYSE:NVS - Free Report) by 26.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,187 shares of the company's stock after selling 31,302 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Novartis were worth $9,838,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nexus Investment Management ULC bought a new position in shares of Novartis during the first quarter worth about $25,000. Raiffeisen Bank International AG acquired a new stake in Novartis during the 4th quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new stake in Novartis during the 1st quarter valued at approximately $33,000. Park Square Financial Group LLC bought a new position in Novartis during the 4th quarter worth approximately $30,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $38,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Up 2.0%

Novartis stock opened at $120.36 on Friday. The company has a market capitalization of $254.24 billion, a PE ratio of 18.81, a PEG ratio of 1.70 and a beta of 0.59. Novartis AG has a 12-month low of $96.06 and a 12-month high of $121.69. The firm's fifty day moving average is $113.76 and its 200 day moving average is $107.94. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.16. Novartis had a return on equity of 39.44% and a net margin of 24.70%. The business had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned $1.80 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, BNP Paribas upgraded shares of Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.38.

Novartis 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.

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