Zevin Asset Management LLC Sells 2,173 Shares of Novartis AG $NVS

Zevin Asset Management LLC lowered its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,336 shares of the company's stock after selling 2,173 shares during the period. Novartis makes up 1.7% of Zevin Asset Management LLC's investment portfolio, making the stock its 24th biggest holding. Zevin Asset Management LLC's holdings in Novartis were worth $12,021,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVS. Brighton Jones LLC raised its position in shares of Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after purchasing an additional 2,666 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Novartis by 39.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,795 shares of the company's stock valued at $646,000 after buying an additional 1,652 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Novartis by 25.9% during the first quarter. Valeo Financial Advisors LLC now owns 8,520 shares of the company's stock worth $950,000 after acquiring an additional 1,755 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Novartis by 19.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,222 shares of the company's stock worth $136,000 after acquiring an additional 200 shares in the last quarter. Finally, POM Investment Strategies LLC raised its holdings in shares of Novartis by 1,275.0% in the 1st quarter. POM Investment Strategies LLC now owns 495 shares of the company's stock worth $55,000 after acquiring an additional 459 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVS has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Novartis in a research note on Friday, October 31st. Jefferies Financial Group reaffirmed a "hold" rating on shares of Novartis in a research report on Monday, October 27th. HC Wainwright lowered Novartis to a "neutral" rating in a research report on Monday, October 27th. Cfra Research upgraded Novartis to a "hold" rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Novartis presently has a consensus rating of "Hold" and a consensus price target of $122.33.

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Check Out Our Latest Stock Report on Novartis

Novartis Price Performance

Novartis stock opened at $126.49 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company has a market cap of $267.20 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.93 and a beta of 0.60. Novartis AG has a 12 month low of $96.06 and a 12 month high of $133.55. The business's 50 day simple moving average is $127.30 and its 200 day simple moving average is $120.55.

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Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.26 by ($0.01). The firm had revenue of $13.91 billion during the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company's revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Sell-side analysts forecast that Novartis AG will post 8.45 EPS 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.

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