Novartis AG (NYSE:NVS) Holdings Cut by Vanguard Capital Wealth Advisors

Vanguard Capital Wealth Advisors cut its stake in Novartis AG (NYSE:NVS) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,157 shares of the company’s stock after selling 200 shares during the quarter. Vanguard Capital Wealth Advisors’ holdings in Novartis were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NVS. Rhumbline Advisers increased its stake in shares of Novartis by 16.7% during the 3rd quarter. Rhumbline Advisers now owns 34,183 shares of the company’s stock worth $3,482,000 after purchasing an additional 4,897 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Novartis by 8.8% in the 3rd quarter. Acadian Asset Management LLC now owns 13,930 shares of the company’s stock valued at $1,418,000 after acquiring an additional 1,130 shares in the last quarter. Clearbridge Investments LLC boosted its position in Novartis by 21.7% during the third quarter. Clearbridge Investments LLC now owns 3,617 shares of the company’s stock worth $368,000 after purchasing an additional 645 shares during the period. Operose Advisors LLC acquired a new position in Novartis during the third quarter valued at approximately $28,000. Finally, Mather Group LLC. lifted its stake in shares of Novartis by 8.1% in the third quarter. Mather Group LLC. now owns 7,763 shares of the company’s stock worth $791,000 after buying an additional 580 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

NVS stock traded up $0.43 during midday trading on Friday, hitting $106.98. The stock had a trading volume of 198,108 shares, compared to its average volume of 1,464,543. Novartis AG has a 52 week low of $92.19 and a 52 week high of $108.78. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $101.70 and a 200 day simple moving average of $101.09. The firm has a market capitalization of $218.67 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 1.64 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The firm had revenue of $11.83 billion during the quarter, compared to analyst estimates of $11.50 billion. As a group, equities research analysts anticipate that Novartis AG will post 7.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on NVS. Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday. BMO Capital Markets increased their price objective on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novartis has an average rating of “Hold” and a consensus target price of $116.67.

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.