Kestra Advisory Services LLC Lowers Stock Position in Novartis AG $NVS

Key Points

• Kestra Advisory Services LLC has decreased its holdings in Novartis AG by 21.4%, now owning 29,639 shares valued at approximately $3.3 million.
• Despite the reduction in holdings by Kestra, other institutional investors, like Nexus Investment Management and Tsfg LLC, have purchased new stakes or significantly increased their stakes in Novartis in the 1st quarter.
• Wall Street analysts generally rate Novartis with a consensus of "Hold" and a price target around $123.50, with recent modifications to ratings from various brokerages, including upgrades by Morgan Stanley.

Kestra Advisory Services LLC decreased its position in shares of Novartis AG (NYSE:NVS - Free Report) by 21.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,639 shares of the company's stock after selling 8,087 shares during the quarter. Kestra Advisory Services LLC's holdings in Novartis were worth $3,304,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nexus Investment Management ULC purchased a new stake in shares of Novartis during the 1st quarter worth approximately $25,000. Tsfg LLC boosted its stake in shares of Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after acquiring an additional 183 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Novartis during the 4th quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Novartis during the 1st quarter worth approximately $33,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Novartis during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVS. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Wall Street Zen cut Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Novartis presently has an average rating of "Hold" and a consensus price target of $123.50.

Novartis Trading Up 0.3%

Shares of Novartis stock opened at $126.96 on Thursday. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $128.03. The firm has a market cap of $268.20 billion, a PE ratio of 18.48, a P/E/G ratio of 1.78 and a beta of 0.62. The business's fifty day moving average is $119.94 and its two-hundred day moving average is $114.09. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same quarter in the prior year, the company posted $1.97 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that Novartis AG will post 8.45 earnings per share for the current 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.

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