J.W. Cole Advisors Inc. Decreases Holdings in Novartis AG (NYSE:NVS)

J.W. Cole Advisors Inc. trimmed its stake in shares of Novartis AG (NYSE:NVS) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,053 shares of the company’s stock after selling 261 shares during the period. J.W. Cole Advisors Inc.’s holdings in Novartis were worth $644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Novartis by 36.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,488 shares of the company’s stock worth $352,000 after buying an additional 933 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Novartis by 12.3% in the fourth quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock valued at $253,000 after purchasing an additional 275 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Novartis by 1,345.3% during the fourth quarter. BNP Paribas Financial Markets now owns 8,036 shares of the company’s stock worth $811,000 after buying an additional 7,480 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Novartis by 29.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,580 shares of the company’s stock worth $270,000 after buying an additional 585 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in Novartis by 8.2% in the 4th quarter. Independent Advisor Alliance now owns 4,598 shares of the company’s stock valued at $464,000 after buying an additional 350 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE:NVS opened at $116.95 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock has a market capitalization of $239.05 billion, a P/E ratio of 15.78, a PEG ratio of 1.73 and a beta of 0.57. The company has a 50 day moving average price of $113.76 and a 200 day moving average price of $105.11. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the company posted $1.83 EPS. Equities research analysts forecast that Novartis AG will post 7.5 EPS for the current year.

Analyst Upgrades and Downgrades

NVS has been the topic of several analyst reports. Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Novartis has a consensus rating of “Hold” and a consensus price target of $120.70.

Novartis Company Profile

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.