OLD National Bancorp IN reduced its position in shares of Novartis AG (NYSE:NVS) by 9.5% in the 4th quarter, Holdings Channel reports. The firm owned 12,034 shares of the company’s stock after selling 1,262 shares during the period. OLD National Bancorp IN’s holdings in Novartis were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. WFG Advisors LP lifted its position in shares of Novartis by 38.1% during the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after purchasing an additional 337 shares during the last quarter. Garland Capital Management Inc. lifted its position in shares of Novartis by 1.0% during the 4th quarter. Garland Capital Management Inc. now owns 52,233 shares of the company’s stock worth $4,385,000 after purchasing an additional 535 shares during the last quarter. Heritage Way Advisors LLC lifted its position in shares of Novartis by 2.2% during the 3rd quarter. Heritage Way Advisors LLC now owns 27,604 shares of the company’s stock worth $2,370,000 after purchasing an additional 600 shares during the last quarter. Nwam LLC lifted its position in shares of Novartis by 16.0% during the 3rd quarter. Nwam LLC now owns 4,463 shares of the company’s stock worth $383,000 after purchasing an additional 614 shares during the last quarter. Finally, Moreno Evelyn V lifted its position in shares of Novartis by 0.7% during the 3rd quarter. Moreno Evelyn V now owns 86,828 shares of the company’s stock worth $7,454,000 after purchasing an additional 617 shares during the last quarter. 11.06% of the stock is owned by institutional investors and hedge funds.

Shares of Novartis AG (NYSE:NVS) opened at $83.60 on Wednesday. Novartis AG has a 1 year low of $72.67 and a 1 year high of $94.19. The firm has a market cap of $194,689.48, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31.

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

Several research firms have recently issued reports on NVS. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, January 18th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Leerink Swann lifted their price objective on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Nord/LB reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Novartis has a consensus rating of “Hold” and an average 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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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