First Allied Advisory Services Inc. Sells 2,065 Shares of Novartis AG (NVS)

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First Allied Advisory Services Inc. trimmed its stake in Novartis AG (NYSE:NVS) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,273 shares of the company’s stock after selling 2,065 shares during the period. First Allied Advisory Services Inc.’s holdings in Novartis were worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Truvestments Capital LLC acquired a new position in Novartis during the 1st quarter valued at about $25,000. Canton Hathaway LLC acquired a new position in Novartis during the 1st quarter valued at about $26,000. AlphaMark Advisors LLC acquired a new position in Novartis during the 4th quarter valued at about $30,000. Financial Gravity Wealth Inc. acquired a new position in Novartis during the 1st quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Novartis during the 4th quarter valued at about $35,000. 11.66% of the stock is owned by hedge funds and other institutional investors.

Shares of NVS stock opened at $80.73 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $188.38 billion, a PE ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.66. Novartis AG has a fifty-two week low of $63.60 and a fifty-two week high of $85.08.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. The business had revenue of $11.11 billion for the quarter, compared to analyst estimates of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 earnings per share. Research analysts anticipate that Novartis AG will post 4.98 EPS for the current year.

Several research analysts recently issued reports on NVS shares. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Wednesday, January 16th. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $82.50 to $82.52 in a research report on Wednesday, April 10th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price on the stock in a research report on Wednesday, April 24th. Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Finally, Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Novartis presently has an average rating of “Hold” and an average price target of $87.57.

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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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