OneDigital Investment Advisors LLC Sells 991 Shares of Novartis AG (NYSE:NVS)

OneDigital Investment Advisors LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,149 shares of the company’s stock after selling 991 shares during the period. OneDigital Investment Advisors LLC’s holdings in Novartis were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Novartis by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the period. Janus Henderson Group PLC lifted its position in shares of Novartis by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after acquiring an additional 16,015 shares during the period. Magnetar Financial LLC boosted its stake in Novartis by 53.7% during the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after acquiring an additional 666,104 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Novartis by 191.1% in the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after purchasing an additional 1,250,318 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its stake in Novartis by 31.7% in the second quarter. Chevy Chase Trust Holdings LLC now owns 1,112,491 shares of the company’s stock valued at $118,436,000 after purchasing an additional 267,490 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of Novartis stock opened at $103.06 on Tuesday. The business’s fifty day simple moving average is $112.86 and its 200 day simple moving average is $110.05. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a market capitalization of $210.65 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the firm posted $1.74 EPS. As a group, analysts anticipate that Novartis AG will post 7.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVS shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis has an average rating of “Hold” and an average price target of $121.50.

Novartis Company Profile

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.