Hayek Kallen Investment Management Cuts Holdings in Novartis AG (NYSE:NVS)

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Hayek Kallen Investment Management decreased its position in shares of Novartis AG (NYSE:NVS) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,848 shares of the company’s stock after selling 592 shares during the period. Novartis makes up approximately 2.4% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 13th biggest position. Hayek Kallen Investment Management’s holdings in Novartis were worth $3,897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Watch Point Trust Co grew its position in shares of Novartis by 4.9% during the third quarter. Watch Point Trust Co now owns 42,542 shares of the company’s stock valued at $3,697,000 after purchasing an additional 1,993 shares in the last quarter. Gamble Jones Investment Counsel lifted its holdings in shares of Novartis by 1.3% in the 3rd quarter. Gamble Jones Investment Counsel now owns 149,312 shares of the company’s stock valued at $12,975,000 after acquiring an additional 1,845 shares during the last quarter. Bourgeon Capital Management LLC lifted its holdings in shares of Novartis by 0.7% in the 3rd quarter. Bourgeon Capital Management LLC now owns 56,411 shares of the company’s stock valued at $4,902,000 after acquiring an additional 405 shares during the last quarter. CNB Bank lifted its holdings in shares of Novartis by 24.2% in the 3rd quarter. CNB Bank now owns 10,023 shares of the company’s stock valued at $871,000 after acquiring an additional 1,951 shares during the last quarter. Finally, Armor Investment Advisors LLC lifted its holdings in shares of Novartis by 7.6% in the 3rd quarter. Armor Investment Advisors LLC now owns 5,164 shares of the company’s stock valued at $449,000 after acquiring an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 11.19% of the company’s stock.

NYSE NVS traded up $1.38 during trading on Friday, hitting $88.37. The stock had a trading volume of 1,366,856 shares, compared to its average volume of 2,204,612. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.73 and a current ratio of 0.95. The stock has a market capitalization of $199.13 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.94 and a beta of 0.59. Novartis AG has a one year low of $72.19 and a one year high of $95.00. The stock has a 50 day simple moving average of $86.81 and a 200 day simple moving average of $87.75.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The business had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $11.67 billion. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. On average, sell-side analysts predict that Novartis AG will post 5.16 EPS for the current year.

A number of research analysts recently commented on the stock. Argus increased their price target on shares of Novartis to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 29th. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Cowen reaffirmed a “buy” rating and issued a $100.00 price target on shares of Novartis in a report on Friday, October 25th. Finally, Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Friday, July 19th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Novartis currently has a consensus rating of “Hold” and a consensus target price of $95.28.

Novartis Profile

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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