Novartis AG (NYSE:NVS) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its stake in Novartis AG by 9.6%, holding 26,099 shares worth approximately $2.91 million after selling 2,775 shares in Q1.
• Novartis reported an earnings per share (EPS) of $2.42 for the last quarter, exceeding analysts' expectations of $2.38, with revenues of $14.05 billion, up 12.3% year-over-year.
• Analysts have a consensus rating of "Hold" on Novartis with a price target of $123.50, showing mixed sentiments with some upgrades from firms like Morgan Stanley and BNP Paribas.

Callan Family Office LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,099 shares of the company's stock after selling 2,775 shares during the quarter. Callan Family Office LLC's holdings in Novartis were worth $2,910,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. HighTower Advisors LLC raised its stake in shares of Novartis by 1.1% during the 1st quarter. HighTower Advisors LLC now owns 237,841 shares of the company's stock worth $26,515,000 after buying an additional 2,488 shares during the period. Todd Asset Management LLC increased its position in shares of Novartis by 1.4% during the first quarter. Todd Asset Management LLC now owns 396,510 shares of the company's stock worth $44,203,000 after purchasing an additional 5,329 shares in the last quarter. Tranquilli Financial Advisor LLC increased its position in shares of Novartis by 2.4% during the first quarter. Tranquilli Financial Advisor LLC now owns 4,438 shares of the company's stock worth $495,000 after purchasing an additional 103 shares in the last quarter. Houlihan Financial Resource Group Ltd. purchased a new stake in shares of Novartis during the first quarter worth approximately $206,000. Finally, Meridian Wealth Management LLC increased its position in shares of Novartis by 5.0% during the first quarter. Meridian Wealth Management LLC now owns 4,370 shares of the company's stock worth $487,000 after purchasing an additional 209 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target for the company in a research report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $123.50.

Novartis Trading Up 0.9%

NYSE:NVS traded up $1.04 during trading hours on Thursday, hitting $122.24. The company had a trading volume of 1,211,989 shares, compared to its average volume of 1,998,310. Novartis AG has a 1 year low of $96.06 and a 1 year high of $124.83. The company has a market cap of $258.22 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.67 and a beta of 0.62. The company has a 50-day moving average of $118.54 and a 200 day moving average of $112.82. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period last year, the company earned $1.97 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect 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.