Global Trust Asset Management LLC Reduces Holdings in Novartis AG (NVS)

Global Trust Asset Management LLC cut its holdings in Novartis AG (NYSE:NVS) by 95.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 375 shares of the company’s stock after selling 7,297 shares during the quarter. Global Trust Asset Management LLC’s holdings in Novartis were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NVS. Glen Harbor Capital Management LLC raised its holdings in Novartis by 13.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,816 shares of the company’s stock worth $817,000 after buying an additional 1,248 shares during the period. AMP Capital Investors Ltd acquired a new stake in Novartis during the 2nd quarter worth about $2,878,000. Natixis acquired a new stake in Novartis during the 2nd quarter worth about $333,000. Flagship Harbor Advisors LLC acquired a new stake in Novartis during the 2nd quarter worth about $199,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Novartis by 227.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,638 shares of the company’s stock worth $1,559,000 after buying an additional 14,344 shares during the period. Hedge funds and other institutional investors own 11.18% of the company’s stock.

Several research firms have issued reports on NVS. JPMorgan Chase & Co. downgraded Novartis from a “neutral” rating to an “underweight” rating in a report on Wednesday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 target price on shares of Novartis in a research note on Tuesday, December 11th. Guggenheim started coverage on Novartis in a research note on Monday, October 8th. They set a “neutral” rating on the stock. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, September 18th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Wednesday, October 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Novartis presently has a consensus rating of “Hold” and an average price target of $90.94.

Shares of NYSE NVS opened at $87.77 on Friday. The company has a market capitalization of $200.88 billion, a P/E ratio of 18.25, a PEG ratio of 1.85 and a beta of 0.73. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, equities analysts forecast that Novartis AG will post 5.22 earnings per share for the current year.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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