Wellington Management Group LLP Has $333.47 Million Stock Holdings in Novartis AG $NVS

Wellington Management Group LLP trimmed its holdings in Novartis AG (NYSE:NVS) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,991,326 shares of the company’s stock after selling 656,535 shares during the quarter. Wellington Management Group LLP’s holdings in Novartis were worth $333,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC increased its position in shares of Novartis by 9.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,041 shares of the company’s stock valued at $339,000 after purchasing an additional 252 shares during the period. Brighton Jones LLC boosted its stake in Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after buying an additional 2,666 shares in the last quarter. Rhumbline Advisers increased its holdings in Novartis by 11.1% in the 1st quarter. Rhumbline Advisers now owns 38,600 shares of the company’s stock valued at $4,303,000 after buying an additional 3,846 shares during the period. Spire Wealth Management increased its holdings in Novartis by 17.2% in the 1st quarter. Spire Wealth Management now owns 3,032 shares of the company’s stock valued at $338,000 after buying an additional 446 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Novartis by 856.3% in the 1st quarter. Versant Capital Management Inc now owns 7,507 shares of the company’s stock valued at $837,000 after buying an additional 6,722 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE:NVS opened at $125.0140 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The business’s fifty day moving average price is $118.91 and its two-hundred day moving average price is $113.32. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $125.62. The stock has a market capitalization of $264.08 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.74 and a beta of 0.62.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $13.94 billion. During the same period last year, the business earned $1.97 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.50.

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.