Chesley Taft & Associates LLC Has $3.16 Million Stake in Novartis AG (NYSE:NVS)

Chesley Taft & Associates LLC lowered its stake in shares of Novartis AG (NYSE:NVSFree Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,712 shares of the company’s stock after selling 350 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Novartis were worth $3,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Morningstar Investment Services LLC increased its stake in Novartis by 99.0% in the fourth quarter. Morningstar Investment Services LLC now owns 746,836 shares of the company’s stock valued at $74,661,000 after acquiring an additional 371,590 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Novartis by 1,936.7% in the 4th quarter. Pacer Advisors Inc. now owns 387,820 shares of the company’s stock valued at $39,158,000 after purchasing an additional 368,778 shares during the last quarter. First Financial Bankshares Inc acquired a new position in shares of Novartis during the 4th quarter worth $32,003,000. International Assets Investment Management LLC lifted its position in shares of Novartis by 6,599.3% during the 4th quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after buying an additional 147,165 shares during the last quarter. Finally, Creative Planning boosted its stake in Novartis by 48.6% in the third quarter. Creative Planning now owns 447,582 shares of the company’s stock valued at $45,591,000 after buying an additional 146,327 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.5 %

NYSE:NVS traded down $0.50 during trading hours on Thursday, hitting $106.57. 1,268,659 shares of the company were exchanged, compared to its average volume of 1,475,179. The stock has a market capitalization of $217.83 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58. Novartis AG has a one year low of $92.19 and a one year high of $108.78. The company has a fifty day simple moving average of $101.70 and a 200 day simple moving average of $101.09. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43.

Novartis (NYSE:NVSGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Sell-side analysts expect that Novartis AG will post 7.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on NVS. BMO Capital Markets increased their target price on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.67.

Get Our Latest Analysis on Novartis

Novartis Company Profile

(Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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