Clifford Swan Investment Counsel LLC Lowers Stock Position in Novartis AG $NVS

Key Points

• Clifford Swan Investment Counsel reduced its Novartis stake by 17.1% in the second quarter, selling 12,433 shares and retaining 60,118 shares valued at approximately $9.42 million.
• Novartis shares were trading at $152.22, down 1.0%, with a market capitalization of about $290.5 billion. The company reported quarterly revenue of $14.95 billion and earnings of $2.41 per share.
• Analyst sentiment is mixed: seven analysts rate Novartis a Buy, seven a Hold, and two a Sell, resulting in a consensus Hold rating and a $141.20 target price.

Clifford Swan Investment Counsel LLC lessened its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,118 shares of the company's stock after selling 12,433 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Novartis were worth $9,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Evolution Wealth Management Inc. boosted its stake in Novartis by 552.0% during the second quarter. Evolution Wealth Management Inc. now owns 163 shares of the company's stock worth $26,000 after acquiring an additional 138 shares in the last quarter. Atlatl Advisers LLC purchased a new position in shares of Novartis during the second quarter valued at approximately $26,000. Archer Investment Corp boosted its position in shares of Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 80 shares in the last quarter. CrossGen Wealth LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $28,000. Finally, Bank of Jackson Hole Trust grew its stake in shares of Novartis by 425.0% in the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock worth $32,000 after buying an additional 187 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 1.0%

NYSE:NVS opened at $152.22 on Tuesday. The stock has a market cap of $290.46 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.64 and a beta of 0.45. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The company's 50 day moving average price is $155.14 and its 200-day moving average price is $153.72. Novartis AG has a 52 week low of $121.57 and a 52 week high of $170.46.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. The company had revenue of $14.95 billion during the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, equities research analysts forecast that Novartis AG will post 8.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research note on Friday, July 24th. Citigroup reissued a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Novartis currently has a consensus rating of "Hold" and a consensus target price of $141.20.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source