Cohen Investment Advisors LLC Sells 688 Shares of Novartis AG (NYSE:NVS)

Cohen Investment Advisors LLC trimmed its stake in shares of Novartis AG (NYSE:NVS) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,870 shares of the company’s stock after selling 688 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Novartis were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Glenmede Trust Co. NA boosted its holdings in shares of Novartis by 2.0% during the third quarter. Glenmede Trust Co. NA now owns 38,953 shares of the company’s stock worth $3,968,000 after purchasing an additional 780 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Novartis by 14.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,280 shares of the company’s stock worth $232,000 after buying an additional 280 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Novartis by 30.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 311,972 shares of the company’s stock valued at $31,777,000 after buying an additional 73,564 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Novartis by 1.7% during the third quarter. Evergreen Capital Management LLC now owns 13,464 shares of the company’s stock valued at $1,371,000 after acquiring an additional 221 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Novartis by 18.8% during the third quarter. Kennedy Capital Management LLC now owns 17,277 shares of the company’s stock valued at $1,773,000 after acquiring an additional 2,731 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Up 0.3 %

Shares of Novartis stock traded up $0.34 during trading on Thursday, hitting $106.78. The company’s stock had a trading volume of 516,189 shares, compared to its average volume of 1,254,827. Novartis AG has a 52 week low of $92.19 and a 52 week high of $108.78. The company has a market capitalization of $218.26 billion, a PE ratio of 14.41, a P/E/G ratio of 1.63 and a beta of 0.57. The company has a fifty day simple moving average of $102.80 and a two-hundred day simple moving average of $101.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The business had revenue of $11.83 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Equities research analysts predict that Novartis AG will post 7.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVS. Jefferies Financial Group boosted their price objective on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. BMO Capital Markets raised their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Finally, Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.13.

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.