Carr Financial Group Corp Sells 2,357 Shares of Novartis AG (NYSE:NVS)

Carr Financial Group Corp trimmed its position in Novartis AG (NYSE:NVS - Free Report) by 44.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,923 shares of the company's stock after selling 2,357 shares during the period. Carr Financial Group Corp's holdings in Novartis were worth $326,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Private Wealth Partners LLC acquired a new stake in Novartis in the first quarter worth about $202,000. Meriwether Wealth & Planning LLC grew its position in shares of Novartis by 15.4% during the 1st quarter. Meriwether Wealth & Planning LLC now owns 9,727 shares of the company's stock worth $1,084,000 after buying an additional 1,295 shares during the period. Abundance Wealth Counselors raised its stake in shares of Novartis by 6.9% during the first quarter. Abundance Wealth Counselors now owns 13,728 shares of the company's stock worth $1,530,000 after buying an additional 887 shares during the last quarter. Matthew Goff Investment Advisor LLC raised its stake in shares of Novartis by 2.1% during the first quarter. Matthew Goff Investment Advisor LLC now owns 89,361 shares of the company's stock worth $9,962,000 after buying an additional 1,827 shares during the last quarter. Finally, Greenup Street Wealth Management LLC acquired a new position in Novartis in the first quarter valued at approximately $4,583,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Down 0.4%

Shares of NYSE NVS opened at $115.97 on Friday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.61 and a current ratio of 0.79. The stock has a market cap of $244.98 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.67 and a beta of 0.59. The firm has a 50 day moving average price of $112.90 and a 200 day moving average price of $107.40.

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

Analysts Set New Price Targets

Separately, BNP Paribas raised shares of Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Novartis currently has an average rating of "Hold" and an average price target of $123.38.

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.

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