Novartis AG (NYSE:NVS) Shares Sold by Ledyard National Bank

Ledyard National Bank cut its position in shares of Novartis AG (NYSE:NVS) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,592 shares of the company’s stock after selling 196 shares during the quarter. Ledyard National Bank’s holdings in Novartis were worth $4,528,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Novartis during the first quarter worth about $25,000. Canton Hathaway LLC acquired a new stake in shares of Novartis in the first quarter valued at about $26,000. Harvest Group Wealth Management LLC acquired a new stake in shares of Novartis in the first quarter valued at about $27,000. Asset Dedication LLC grew its stake in shares of Novartis by 98.7% in the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after buying an additional 151 shares in the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Novartis in the first quarter valued at about $33,000. Institutional investors own 11.85% of the company’s stock.

Shares of NYSE NVS opened at $88.15 on Wednesday. Novartis AG has a fifty-two week low of $71.33 and a fifty-two week high of $95.00. The company’s 50 day simple moving average is $91.59. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The firm has a market cap of $211.49 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.10 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the firm earned $1.29 EPS. Novartis’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Novartis AG will post 5.06 EPS for the current year.

A number of equities research analysts have recently issued reports on NVS shares. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Argus increased their target price on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. 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. Finally, Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Friday, July 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $90.63.

Novartis Profile

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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