Novartis AG (NYSE:NVS) Shares Sold by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. cut its holdings in shares of Novartis AG (NYSE:NVS) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,855 shares of the company’s stock after selling 717 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Novartis were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Novartis by 223.5% during the 4th quarter. BlackRock Inc. now owns 11,439,298 shares of the company’s stock worth $981,607,000 after acquiring an additional 7,902,964 shares during the period. FMR LLC boosted its stake in Novartis by 441.6% in the 4th quarter. FMR LLC now owns 7,016,047 shares of the company’s stock worth $602,046,000 after purchasing an additional 5,720,650 shares during the period. Lazard Asset Management LLC boosted its stake in Novartis by 407.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,525,897 shares of the company’s stock worth $242,839,000 after purchasing an additional 2,028,045 shares during the period. Bank of America Corp DE boosted its stake in Novartis by 25.1% in the 4th quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock worth $776,909,000 after purchasing an additional 1,817,005 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in Novartis by 53.4% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,764,486 shares of the company’s stock worth $408,841,000 after purchasing an additional 1,658,037 shares during the period. 11.81% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the company. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a research note on Wednesday, April 24th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley downgraded Novartis from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. Five analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Novartis has a consensus rating of “Hold” and a consensus target price of $87.57.

NYSE:NVS opened at $89.52 on Friday. Novartis AG has a twelve month low of $63.60 and a twelve month high of $90.21. The stock has a market capitalization of $206.79 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.14 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.83 and a current ratio of 0.93.

Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.10. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The firm had revenue of $11.11 billion for the quarter, compared to analysts’ expectations of $11.76 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Novartis AG will post 5.01 earnings per share for the current fiscal year.

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About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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