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Blair William & Co. IL Cuts Position in Novartis AG (NYSE:NVS)

Novartis logo with Medical background

Key Points

  • Blair William & Co. IL reduced its stake in Novartis AG by 4.6%, selling 3,730 shares in the first quarter, bringing their total holdings to 76,522 shares valued at approximately $8.53 million.
  • Novartis reported a quarterly earnings per share (EPS) of $2.42, exceeding estimates, and achieved revenue of $14.05 billion, marking a 12.3% increase year-over-year.
  • Analysts have rated Novartis with an average rating of "Hold" and a consensus price target of $123.67, with some analysts upgrading the stock to a "strong-buy" rating.
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Blair William & Co. IL trimmed its position in shares of Novartis AG (NYSE:NVS - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,522 shares of the company's stock after selling 3,730 shares during the quarter. Blair William & Co. IL's holdings in Novartis were worth $8,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NVS. Brighton Jones LLC increased its position in Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock valued at $599,000 after acquiring an additional 2,666 shares during the last quarter. Alliancebernstein L.P. increased its position in Novartis by 34.8% during the fourth quarter. Alliancebernstein L.P. now owns 47,158 shares of the company's stock valued at $4,589,000 after acquiring an additional 12,184 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Novartis during the fourth quarter valued at approximately $1,924,000. Russell Investments Group Ltd. raised its position in Novartis by 6.8% in the fourth quarter. Russell Investments Group Ltd. now owns 10,070 shares of the company's stock worth $980,000 after acquiring an additional 645 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Novartis by 18.3% during the 4th quarter. Invesco Ltd. now owns 239,742 shares of the company's stock worth $23,329,000 after acquiring an additional 37,016 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NYSE NVS traded up $0.88 during mid-day trading on Friday, reaching $116.80. The company's stock had a trading volume of 1,585,010 shares, compared to its average volume of 2,143,527. The stock has a fifty day moving average of $118.26 and a two-hundred day moving average of $112.27. 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 52 week low of $96.06 and a 52 week high of $124.83. The firm has a market capitalization of $246.73 billion, a PE ratio of 17.00, a P/E/G ratio of 1.63 and a beta of 0.62.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (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 for the quarter, compared to analysts' expectations of $13.94 billion. During the same quarter last year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVS shares. Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target for the company in a report on Friday. BNP Paribas upgraded Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $123.50.

Check Out Our Latest Stock Analysis on NVS

Novartis Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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