Earnest Partners LLC Cuts Stake in Novartis AG (NYSE:NVS)

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Earnest Partners LLC lowered its holdings in shares of Novartis AG (NYSE:NVS) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,928,986 shares of the company’s stock after selling 20,544 shares during the quarter. Novartis comprises about 1.6% of Earnest Partners LLC’s investment portfolio, making the stock its 6th biggest position. Earnest Partners LLC owned approximately 0.08% of Novartis worth $176,136,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in shares of Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after buying an additional 151 shares during the last quarter. Vigilant Capital Management LLC bought a new position in shares of Novartis in the second quarter valued at approximately $37,000. Manchester Financial Inc. bought a new position in shares of Novartis in the second quarter valued at approximately $45,000. Prime Capital Investment Advisors LLC bought a new position in shares of Novartis in the second quarter valued at approximately $49,000. Finally, Truvestments Capital LLC boosted its holdings in Novartis by 106.1% during the second quarter. Truvestments Capital LLC now owns 540 shares of the company’s stock worth $49,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 11.21% of the company’s stock.

NVS has been the subject of a number of research analyst reports. Argus increased their target price on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a research note on Thursday. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a report on Friday, July 5th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Novartis currently has an average rating of “Hold” and an average target price of $93.29.

Shares of Novartis stock opened at $87.65 on Friday. Novartis AG has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The stock has a 50 day moving average of $90.27 and a 200 day moving average of $88.64. The firm has a market capitalization of $205.32 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.00 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Novartis AG will post 5.15 EPS for the current year.

About Novartis

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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