Atlantic Union Bankshares Corp Sells 1,349 Shares of Novartis AG (NYSE:NVS)

Atlantic Union Bankshares Corp trimmed its position in Novartis AG (NYSE:NVS) by 7.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,017 shares of the company’s stock after selling 1,349 shares during the period. Atlantic Union Bankshares Corp’s holdings in Novartis were worth $1,743,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NVS. Frazier Financial Advisors LLC bought a new position in shares of Novartis in the 4th quarter valued at $26,000. Richardson Financial Services Inc. acquired a new stake in Novartis in the fourth quarter valued at $26,000. Operose Advisors LLC acquired a new stake in Novartis in the third quarter valued at $28,000. Planned Solutions Inc. acquired a new stake in Novartis in the fourth quarter valued at $31,000. Finally, AdvisorNet Financial Inc increased its holdings in Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after purchasing an additional 288 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

Shares of Novartis stock opened at $106.46 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $102.22 and a two-hundred day moving average price of $101.19. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The company has a market cap of $217.60 billion, a P/E ratio of 14.37, a PEG ratio of 1.64 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share 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 firm had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. As a group, analysts anticipate that Novartis AG will post 7.27 EPS for the current year.

Analyst Ratings Changes

NVS has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective for the company. BMO Capital Markets increased their price objective on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Finally, Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.67.

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.