Harel Insurance Investments & Financial Services Ltd. lowered its holdings in shares of Novartis AG (NYSE:NVS) by 87.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the company’s stock after selling 7,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Novartis were worth $96,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathlight Investors LLC purchased a new position in Novartis during the 4th quarter valued at $408,000. Executive Wealth Management LLC purchased a new position in Novartis during the 4th quarter valued at $36,000. Wambolt & Associates LLC boosted its holdings in Novartis by 8.0% during the 1st quarter. Wambolt & Associates LLC now owns 8,256 shares of the company’s stock valued at $689,000 after acquiring an additional 609 shares during the period. Perennial Advisors LLC boosted its holdings in Novartis by 12.2% during the 4th quarter. Perennial Advisors LLC now owns 13,682 shares of the company’s stock valued at $1,174,000 after acquiring an additional 1,485 shares during the period. Finally, Ipswich Investment Management Co. Inc. boosted its holdings in Novartis by 17.0% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 29,463 shares of the company’s stock valued at $2,528,000 after acquiring an additional 4,278 shares during the period. Institutional investors own 11.68% of the company’s stock.

Shares of NYSE NVS opened at $76.41 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.97. The firm has a market cap of $176.51 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.07 and a beta of 0.68. Novartis AG has a twelve month low of $72.30 and a twelve month high of $96.31.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.09). The firm had revenue of $13.27 billion for the quarter, compared to the consensus estimate of $13.33 billion. Novartis had a net margin of 24.30% and a return on equity of 15.66%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Research analysts expect that Novartis AG will post 5.1 earnings per share for the current fiscal year.

A number of research firms recently issued reports on NVS. Zacks Investment Research cut Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Morgan Stanley cut Novartis from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $82.50 to $82.52 in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.25.

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Novartis Company 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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