Summit Trail Advisors LLC Sells 376 Shares of Novartis AG (NYSE:NVS)

Summit Trail Advisors LLC trimmed its position in Novartis AG (NYSE:NVS) by 6.8% in the third quarter, Holdings Channel.com reports. The firm owned 5,177 shares of the company’s stock after selling 376 shares during the period. Summit Trail Advisors LLC’s holdings in Novartis were worth $595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVS. Founders Financial Securities LLC grew its position in shares of Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after buying an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. grew its holdings in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after acquiring an additional 95 shares during the period. NBC Securities Inc. grew its holdings in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after acquiring an additional 97 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the period. Finally, Centaurus Financial Inc. boosted its position in shares of Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after purchasing an additional 98 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 0.7 %

Novartis stock opened at $103.54 on Tuesday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $111.60 and a 200-day moving average of $110.22. The stock has a market capitalization of $211.64 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period in the prior year, the business earned $1.74 EPS. On average, equities research analysts anticipate that Novartis AG will post 7.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on NVS shares. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.50.

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.