Bartlett & CO. Wealth Management LLC Sells 680 Shares of Novartis AG (NYSE:NVS)

Bartlett & CO. Wealth Management LLC lowered its position in shares of Novartis AG (NYSE:NVS) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,489 shares of the company’s stock after selling 680 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Novartis were worth $11,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Novartis by 115.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock valued at $26,797,000 after buying an additional 124,111 shares during the period. Bank of Montreal Can increased its position in Novartis by 343.5% in the 2nd quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock valued at $70,652,000 after acquiring an additional 509,567 shares during the period. CWA Asset Management Group LLC raised its stake in shares of Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after acquiring an additional 5,164 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Novartis by 135.5% during the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock worth $4,598,000 after purchasing an additional 22,998 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Novartis by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock worth $18,088,000 after purchasing an additional 18,990 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Trading Down 1.6 %

NYSE NVS opened at $98.17 on Thursday. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The business has a 50 day simple moving average of $100.34 and a 200 day simple moving average of $108.88. The stock has a market capitalization of $200.65 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.44 and a beta of 0.57.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the previous year, the business posted $1.74 EPS. Research analysts expect that Novartis AG will post 7.62 earnings per share for the current year.

About Novartis

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.