Cable Hill Partners LLC Has $613,000 Stock Holdings in Novartis AG (NYSE:NVS)

Cable Hill Partners LLC lessened its stake in Novartis AG (NYSE:NVS - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,401 shares of the company's stock after selling 2,784 shares during the quarter. Cable Hill Partners LLC's holdings in Novartis were worth $613,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Novartis by 27.8% in the 1st quarter. Victory Capital Management Inc. now owns 123,030 shares of the company's stock valued at $13,715,000 after buying an additional 26,789 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Novartis by 9.9% during the 1st quarter. Larson Financial Group LLC now owns 1,312 shares of the company's stock valued at $146,000 after purchasing an additional 118 shares during the last quarter. Sage Mountain Advisors LLC lifted its holdings in Novartis by 7.0% during the 1st quarter. Sage Mountain Advisors LLC now owns 3,011 shares of the company's stock valued at $336,000 after purchasing an additional 196 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Novartis by 1.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 24,418 shares of the company's stock valued at $2,722,000 after purchasing an additional 346 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Novartis by 1.0% during the 1st quarter. Whittier Trust Co. now owns 53,189 shares of the company's stock valued at $5,929,000 after purchasing an additional 511 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Performance

NVS stock traded up $0.39 during trading hours on Friday, hitting $114.91. 918,582 shares of the stock were exchanged, compared to its average volume of 1,604,409. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $242.74 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.60 and a beta of 0.59. The company has a 50-day simple moving average of $116.57 and a two-hundred day simple moving average of $110.31. Novartis AG has a 12 month low of $96.06 and a 12 month high of $124.83.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 39.44% and a net margin of 24.70%. 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 earned $1.97 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, BNP Paribas raised Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Novartis has a consensus rating of "Hold" and a consensus target price 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.