Novartis AG (NYSE:NVS) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lowered its holdings in shares of Novartis AG (NYSE:NVS) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 17,711 shares of the company’s stock after selling 170 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Novartis were worth $2,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NVS. Hantz Financial Services Inc. raised its position in shares of Novartis by 1.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 16,234 shares of the company’s stock worth $1,867,000 after purchasing an additional 248 shares during the last quarter. Fiduciary Trust Co increased its position in Novartis by 1.2% during the third quarter. Fiduciary Trust Co now owns 49,957 shares of the company’s stock worth $5,746,000 after buying an additional 600 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Novartis in the third quarter worth $779,000. Townsquare Capital LLC raised its holdings in shares of Novartis by 38.4% in the third quarter. Townsquare Capital LLC now owns 42,759 shares of the company’s stock worth $4,918,000 after acquiring an additional 11,866 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in shares of Novartis by 156,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,562 shares of the company’s stock valued at $180,000 after acquiring an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVS. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.50.

Novartis Stock Up 0.9 %

Shares of NYSE NVS opened at $105.77 on Friday. The stock has a market capitalization of $216.19 billion, a PE ratio of 12.28, a P/E/G ratio of 1.51 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $110.72 and a 200-day moving average of $110.18. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the business earned $1.74 earnings per share. On average, analysts anticipate that Novartis AG will post 7.66 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.