Hayek Kallen Investment Management decreased its position in shares of Novartis AG (NYSE:NVS) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,815 shares of the company’s stock after selling 1,381 shares during the quarter. Novartis accounts for approximately 2.9% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 11th largest position. Hayek Kallen Investment Management’s holdings in Novartis were worth $4,405,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Novartis during the first quarter worth about $25,000. Canton Hathaway LLC bought a new stake in Novartis during the first quarter worth about $26,000. Harvest Group Wealth Management LLC bought a new stake in Novartis during the first quarter worth about $27,000. Financial Gravity Wealth Inc. bought a new stake in Novartis during the first quarter worth about $33,000. Finally, AlphaMark Advisors LLC bought a new position in shares of Novartis in the fourth quarter worth about $30,000. 11.82% of the stock is owned by institutional investors and hedge funds.
NVS has been the subject of a number of research reports. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Finally, Morgan Stanley cut shares of Novartis from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $82.50 to $82.52 in a report on Wednesday, April 10th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.57.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. The business had revenue of $11.11 billion during the quarter, compared to analyst estimates of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $1.28 EPS. As a group, research analysts anticipate that Novartis AG will post 5 earnings per share for the current fiscal year.
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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