Cwm LLC Has $7.69 Million Stock Position in Novartis AG (NYSE:NVS)

CWM LLC lessened its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,972 shares of the company's stock after selling 2,337 shares during the quarter. CWM LLC's holdings in Novartis were worth $7,689,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Nexus Investment Management ULC purchased a new position in Novartis in the 1st quarter valued at about $25,000. Tsfg LLC boosted its position in Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after purchasing an additional 183 shares during the period. Raiffeisen Bank International AG bought a new position in Novartis in the 4th quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in Novartis in the 1st quarter worth approximately $33,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Novartis during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Wall Street Analyst Weigh In

Separately, BNP Paribas upgraded Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Novartis has a consensus rating of "Hold" and an average target price of $123.67.

Novartis Stock Down 0.3%

Shares of NYSE:NVS traded down $0.29 during trading on Friday, reaching $114.23. 2,546,533 shares of the company traded hands, compared to its average volume of 1,603,205. The firm has a fifty day simple moving average of $116.68 and a 200 day simple moving average of $110.43. 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 AG has a 1-year low of $96.06 and a 1-year high of $124.83. The firm has a market cap of $241.30 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.55 and a beta of 0.59.

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 analysts' consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.09% and a net margin of 25.64%. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. During the same quarter last year, the firm earned $1.97 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. Analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

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.