Townsquare Capital LLC Sells 3,966 Shares of Novartis AG $NVS

Townsquare Capital LLC reduced its stake in Novartis AG (NYSE:NVS) by 67.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,894 shares of the company’s stock after selling 3,966 shares during the quarter. Townsquare Capital LLC’s holdings in Novartis were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Brighton Jones LLC boosted its holdings in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after acquiring an additional 2,666 shares in the last quarter. AQR Capital Management LLC raised its holdings in Novartis by 102.8% in the first quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock worth $2,516,000 after buying an additional 11,444 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Novartis during the first quarter valued at approximately $1,764,000. Sivia Capital Partners LLC boosted its stake in Novartis by 48.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after purchasing an additional 2,581 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Novartis by 3.8% in the 2nd quarter. PFG Investments LLC now owns 3,050 shares of the company’s stock worth $369,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $148.71 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $314.13 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.51. The firm’s 50 day moving average price is $138.39 and its 200-day moving average price is $129.61. Novartis AG has a twelve month low of $97.71 and a twelve month high of $152.48.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Cfra Research upgraded shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. JPMorgan Chase & Co. upgraded shares of Novartis from a “neutral” rating to an “overweight” rating in a research report on Monday, December 8th. Finally, Cfra set a $126.00 target price on shares of Novartis and gave the stock a “hold” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.