Novartis AG $NVS Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 5.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 132,255 shares of the company’s stock after selling 7,897 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Novartis were worth $18,856,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NVS. O Keefe Stevens Advisory Inc. lifted its stake in shares of Novartis by 6.3% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 1,460 shares of the company’s stock valued at $208,000 after purchasing an additional 87 shares during the period. Diversified Management Inc. acquired a new stake in shares of Novartis during the third quarter worth $258,000. First Heartland Consultants Inc. bought a new stake in Novartis in the third quarter valued at about $205,000. Farther Finance Advisors LLC lifted its stake in Novartis by 10.4% in the third quarter. Farther Finance Advisors LLC now owns 41,229 shares of the company’s stock valued at $5,878,000 after buying an additional 3,889 shares during the period. Finally, Sapient Capital LLC lifted its stake in Novartis by 12.7% in the third quarter. Sapient Capital LLC now owns 2,663 shares of the company’s stock valued at $380,000 after buying an additional 300 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Up 0.1%

Shares of NYSE:NVS traded up $0.11 during midday trading on Friday, reaching $143.22. The company had a trading volume of 874,514 shares, compared to its average volume of 1,990,905. Novartis AG has a 1-year low of $121.57 and a 1-year high of $170.46. The stock has a market cap of $273.28 billion, a PE ratio of 21.60, a P/E/G ratio of 2.73 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average price is $149.36 and its 200 day moving average price is $150.59.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The company had revenue of $14.95 billion during the quarter. Research analysts forecast that Novartis AG will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada assumed coverage on Novartis in a research report on Tuesday, September 8th. They set a “sector perform” rating for the company. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. HSBC upgraded shares of Novartis from a “reduce” rating to a “hold” rating and increased their target price for the stock from $123.00 to $136.00 in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis in a report on Sunday, August 9th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $145.60.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities center on cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto, Leqvio and Jakavi, as well as other therapies for serious and chronic conditions.

Novartis serves patients and healthcare providers in markets worldwide, with operations spanning North America, Europe, Asia and other international regions.