Envestnet Portfolio Solutions Inc. Sells 3,689 Shares of Novartis AG $NVS

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Novartis AG by 15.8%, selling 3,689 shares during the 2nd quarter, bringing its total holdings to 19,594 shares valued at approximately $2.37 million.
• Novartis reported a $2.42 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $2.38, with revenue of $14.05 billion, a 12.3% increase year-over-year.
• The stock has a market cap of $275.76 billion and shows significant variability, with a 52-week trading range between $96.06 and $133.55.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Novartis AG (NYSE:NVS - Free Report) by 15.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,594 shares of the company's stock after selling 3,689 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Novartis were worth $2,371,000 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. WPG Advisers LLC bought a new stake in Novartis during the first quarter worth about $25,000. Tsfg LLC grew its stake in shares of Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after purchasing an additional 183 shares during the last quarter. GFG Capital LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $26,000. Barrett & Company Inc. bought a new stake in shares of Novartis during the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC grew its stake in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Price Performance

Shares of NVS stock opened at $130.54 on Friday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $133.55. The stock has a market cap of $275.76 billion, a PE ratio of 19.00, a PEG ratio of 1.80 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm's 50 day moving average price is $126.24 and its two-hundred day moving average price is $118.37.

Novartis (NYSE:NVS - Get Free Report) last announced 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. The firm had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $1.97 earnings per share. As a group, analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on NVS shares. The Goldman Sachs Group reissued a "sell" rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Novartis has a consensus rating of "Hold" and a consensus price target of $120.33.

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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