Novartis AG (NYSE:NVS) Shares Sold by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lowered its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 81.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,842 shares of the company's stock after selling 34,659 shares during the period. Nixon Peabody Trust Co.'s holdings in Novartis were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Novartis in the fourth quarter worth approximately $109,739,000. Raymond James Financial Inc. acquired a new position in Novartis during the fourth quarter worth approximately $88,339,000. GAMMA Investing LLC raised its stake in Novartis by 14,376.4% during the first quarter. GAMMA Investing LLC now owns 727,296 shares of the company's stock worth $81,079,000 after purchasing an additional 722,272 shares during the period. Northern Trust Corp boosted its holdings in shares of Novartis by 23.1% in the 4th quarter. Northern Trust Corp now owns 2,132,591 shares of the company's stock valued at $207,522,000 after purchasing an additional 399,862 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company's stock valued at $259,706,000 after purchasing an additional 368,171 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Up 0.6%

NYSE NVS traded up $0.74 during mid-day trading on Thursday, reaching $117.68. 1,072,789 shares of the company's stock traded hands, compared to its average volume of 1,587,966. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 1-year low of $96.06 and a 1-year high of $120.92. The company has a fifty day simple moving average of $110.33 and a 200-day simple moving average of $106.36. The company has a market cap of $248.58 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.70 and a beta of 0.60.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.16. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

NVS has been the topic of several research reports. Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Morgan Stanley began coverage on Novartis in a report on Wednesday, February 12th. They issued an "underweight" rating on the stock. UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Finally, BNP Paribas upgraded Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned 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 an average target price of $123.38.

Novartis Company Profile

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.