GAMMA Investing LLC Sells 155 Shares of Novartis AG (NYSE:NVS)

GAMMA Investing LLC cut its stake in Novartis AG (NYSE:NVS) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,309 shares of the company’s stock after selling 155 shares during the period. GAMMA Investing LLC’s holdings in Novartis were worth $320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morningstar Investment Services LLC lifted its holdings 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 buying an additional 371,590 shares during the period. Pacer Advisors Inc. boosted its position in shares of Novartis by 1,936.7% during 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 in the last quarter. First Financial Bankshares Inc acquired a new stake in Novartis during the fourth quarter worth approximately $32,003,000. International Assets Investment Management LLC increased its holdings in Novartis by 6,599.3% in the fourth quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after purchasing an additional 147,165 shares in the last quarter. Finally, Creative Planning lifted 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 during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on Novartis in a research report on Thursday, May 30th. They issued a “buy” rating and a $120.00 target price for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.67.

Novartis Stock Up 0.0 %

Shares of NYSE NVS opened at $104.94 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The company has a 50-day moving average price of $100.42 and a 200-day moving average price of $100.76. The stock has a market capitalization of $214.50 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.61 and a beta of 0.58. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The business had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. On average, equities research analysts forecast that Novartis AG will post 7.27 EPS for the current fiscal year.

Novartis 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.