Atlantic Union Bankshares Corp trimmed its holdings in shares of Novartis AG (NYSE:NVS – Get Rating) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,501 shares of the company's stock after selling 3,027 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Novartis were worth $1,938,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. TCI Wealth Advisors Inc. raised its stake in Novartis by 200.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 300 shares of the company's stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Novartis in the 3rd quarter worth $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Novartis by 146.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 370 shares of the company's stock worth $31,000 after acquiring an additional 220 shares during the last quarter. Bogart Wealth LLC increased its stake in shares of Novartis by 168.8% in the 2nd quarter. Bogart Wealth LLC now owns 414 shares of the company's stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Finally, Curi Wealth Management LLC acquired a new stake in shares of Novartis in the 2nd quarter worth $46,000. 8.12% of the stock is owned by institutional investors and hedge funds.
Get Novartis alerts:Novartis Trading Down 1.0 %
Novartis stock traded down $0.88 during midday trading on Monday, reaching $90.72. 118,585 shares of the stock traded hands, compared to its average volume of 2,355,092. The company has a 50-day simple moving average of $86.77 and a two-hundred day simple moving average of $83.56. The company has a current ratio of 1.31, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32. The firm has a market cap of $200.73 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. Novartis AG has a 12-month low of $74.09 and a 12-month high of $94.26.
Novartis (NYSE:NVS – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $12.54 billion during the quarter, compared to analysts' expectations of $12.90 billion. Novartis had a return on equity of 20.89% and a net margin of 42.66%. Research analysts expect that Novartis AG will post 6.02 earnings per share for the current fiscal year.Analyst Ratings Changes
A number of research firms have recently weighed in on NVS. StockNews.com began coverage on Novartis in a report on Wednesday, October 12th. They set a "strong-buy" rating for the company. Oddo Bhf cut Novartis from an "outperform" rating to a "neutral" rating and set a CHF 88 price target for the company. in a report on Thursday, September 29th. Stifel Nicolaus upgraded Novartis from a "hold" rating to a "buy" rating in a report on Monday, December 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Novartis from CHF 75 to CHF 70 and set a "sell" rating for the company in a report on Friday, October 7th. Finally, JPMorgan Chase & Co. lowered their price target on Novartis from CHF 81 to CHF 78 and set an "underweight" rating for the company in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.11.
Novartis Profile
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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