Gabelli Funds LLC Decreases Stake in Novartis AG (NVS)

Gabelli Funds LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,500 shares of the company’s stock after selling 1,500 shares during the quarter. Gabelli Funds LLC’s holdings in Novartis were worth $24,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Parnassus Investments CA grew its position in shares of Novartis by 18.5% during the 3rd quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after buying an additional 1,477,168 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Novartis by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 6,816,625 shares of the company’s stock worth $572,324,000 after purchasing an additional 183,641 shares during the last quarter. State Street Corp lifted its stake in shares of Novartis by 2.3% during the 2nd quarter. State Street Corp now owns 3,046,276 shares of the company’s stock worth $254,273,000 after purchasing an additional 68,834 shares during the last quarter. Schafer Cullen Capital Management Inc. lifted its stake in shares of Novartis by 9.2% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock worth $232,097,000 after purchasing an additional 233,292 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its stake in Novartis by 2.2% in the third quarter. Mawer Investment Management Ltd. now owns 2,665,258 shares of the company’s stock valued at $228,812,000 after buying an additional 58,133 shares during the last quarter. 11.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Novartis AG (NYSE:NVS) traded up $1.70 on Wednesday, reaching $85.30. The company’s stock had a trading volume of 1,318,874 shares, compared to its average volume of 1,720,382. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.21. Novartis AG has a one year low of $72.67 and a one year high of $94.19. The firm has a market capitalization of $221,650.00, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.95 and a beta of 0.74.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The company had revenue of $12.92 billion for the quarter, compared to analyst estimates of $12.65 billion. During the same period last year, the company earned $1.14 earnings per share. Novartis’s quarterly revenue was up 4.8% compared to the same quarter last year. analysts anticipate that Novartis AG will post 5.36 earnings per share for the current fiscal year.

A number of research firms have commented on NVS. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, October 24th. Nord/LB reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Leerink Swann raised their price objective on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.32.

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About Novartis

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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