Novartis AG $NVS Shares Sold by Family Manage LLC

Key Points

• Family Manage LLC cut its Novartis stake by 92.7% in the first quarter, selling 18,845 shares and retaining 1,493 shares valued at approximately $228,000.
• Other investors largely increased their exposure: Gateway Wealth Partners and Royal Capital Wealth Management opened new positions, while 44 Wealth Management, Van Diest Capital and Waverly Advisors expanded their holdings. Institutions and hedge funds own 13.12% of Novartis.
• Novartis shares rose 0.7% to $156.13, while analysts maintain a consensus “Hold” rating and a $141.20 price target. The company reported quarterly EPS of $2.41 on $14.95 billion in revenue.

Family Manage LLC reduced its position in Novartis AG (NYSE:NVS - Free Report) by 92.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,493 shares of the company's stock after selling 18,845 shares during the period. Family Manage LLC's holdings in Novartis were worth $228,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NVS. Gateway Wealth Partners LLC acquired a new stake in Novartis during the 1st quarter valued at approximately $705,000. Royal Capital Wealth Management LLC acquired a new position in shares of Novartis in the 1st quarter valued at approximately $213,000. 44 Wealth Management LLC boosted its stake in shares of Novartis by 41.8% during the 1st quarter. 44 Wealth Management LLC now owns 3,405 shares of the company's stock valued at $520,000 after buying an additional 1,004 shares during the last quarter. Van Diest Capital LLC boosted its stake in shares of Novartis by 11.1% during the 1st quarter. Van Diest Capital LLC now owns 2,181 shares of the company's stock valued at $333,000 after buying an additional 218 shares during the last quarter. Finally, Waverly Advisors LLC grew its position in shares of Novartis by 10.6% during the first quarter. Waverly Advisors LLC now owns 17,301 shares of the company's stock worth $2,643,000 after buying an additional 1,654 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Up 0.7%

NYSE:NVS opened at $156.13 on Tuesday. 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 business's 50 day moving average is $152.09 and its two-hundred day moving average is $152.33. Novartis AG has a 52 week low of $112.34 and a 52 week high of $170.46. The company has a market cap of $297.91 billion, a PE ratio of 23.55, a P/E/G ratio of 2.68 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The company had revenue of $14.95 billion during the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. On average, analysts predict that Novartis AG will post 8.77 EPS for the current year.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Novartis from a "buy (a-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $141.20.

Novartis 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.

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.