Novartis AG $NVS Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in Novartis AG by 77.3%, selling 105,721 shares during the first quarter, leaving it with 31,098 shares valued at approximately $3.4 million.
• Novartis reported earnings of $2.42 EPS for the latest quarter, exceeding analyst expectations, and showed a 12.3% increase in revenue year-over-year.
• Analyst ratings for Novartis are mixed, with Deutsche Bank maintaining a "buy" rating while other firms have issued various ratings, resulting in a consensus "hold" rating with an average target price of $121.50.

Jones Financial Companies Lllp cut its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 77.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,098 shares of the company's stock after selling 105,721 shares during the period. Jones Financial Companies Lllp's holdings in Novartis were worth $3,423,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NVS. Continuum Advisory LLC boosted its position in shares of Novartis by 10.3% in the fourth quarter. Continuum Advisory LLC now owns 1,021 shares of the company's stock worth $99,000 after buying an additional 95 shares during the period. Tranquilli Financial Advisor LLC increased its holdings in shares of Novartis by 2.4% during the 1st quarter. Tranquilli Financial Advisor LLC now owns 4,438 shares of the company's stock valued at $495,000 after acquiring an additional 103 shares during the last quarter. Intergy Private Wealth LLC raised its stake in shares of Novartis by 3.9% in the 1st quarter. Intergy Private Wealth LLC now owns 2,757 shares of the company's stock valued at $307,000 after acquiring an additional 104 shares in the last quarter. Keudell Morrison Wealth Management boosted its position in Novartis by 3.8% during the first quarter. Keudell Morrison Wealth Management now owns 2,828 shares of the company's stock worth $315,000 after purchasing an additional 104 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in Novartis by 4.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,495 shares of the company's stock valued at $279,000 after buying an additional 107 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

NYSE:NVS opened at $126.49 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $267.20 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.79 and a beta of 0.63. Novartis AG has a 12 month low of $96.06 and a 12 month high of $130.46. The company's 50-day moving average price is $121.56 and its two-hundred day moving average price is $115.51.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.38 by $0.04. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.Novartis's revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS. On average, equities analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price for the company in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $121.50.

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.

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