Chevy Chase Trust Holdings LLC Has $122.78 Million Position in Novartis AG (NYSE:NVS)

Chevy Chase Trust Holdings LLC reduced its holdings in Novartis AG (NYSE:NVS - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,101,372 shares of the company's stock after selling 59,767 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Novartis worth $122,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after acquiring an additional 2,666 shares during the last quarter. New York State Common Retirement Fund raised its stake in Novartis by 1.2% during the fourth quarter. New York State Common Retirement Fund now owns 107,678 shares of the company's stock worth $10,478,000 after purchasing an additional 1,301 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Novartis by 3.8% in the 4th quarter. Private Advisor Group LLC now owns 40,522 shares of the company's stock valued at $3,943,000 after purchasing an additional 1,466 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Novartis by 11.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,143 shares of the company's stock valued at $403,000 after buying an additional 409 shares during the period. Finally, Pinnacle Financial Partners Inc increased its holdings in shares of Novartis by 4.3% during the 4th quarter. Pinnacle Financial Partners Inc now owns 4,823 shares of the company's stock worth $476,000 after buying an additional 198 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE NVS traded down $0.90 on Wednesday, hitting $117.93. The stock had a trading volume of 934,748 shares, compared to its average volume of 1,578,930. The company's 50-day moving average is $113.40 and its two-hundred day moving average is $107.74. Novartis AG has a one year low of $96.06 and a one year high of $120.92. The stock has a market cap of $249.12 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.59. 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 announced its earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.16. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The firm had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. Novartis's revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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