Brighton Jones LLC Reduces Stake in Novartis AG (NYSE:NVS)

Brighton Jones LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 35.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,487 shares of the company’s stock after selling 1,912 shares during the period. Brighton Jones LLC’s holdings in Novartis were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of NVS. Dimensional Fund Advisors LP raised its holdings in Novartis by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock valued at $788,626,000 after buying an additional 1,389,610 shares during the period. Janus Henderson Group PLC raised its stake in shares of Novartis by 0.6% in the first 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. Mondrian Investment Partners LTD lifted its holdings in shares of Novartis by 40.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock worth $199,819,000 after acquiring an additional 590,830 shares during the last quarter. Magnetar Financial LLC boosted its stake in shares of Novartis by 53.7% during the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after purchasing an additional 666,104 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Novartis by 191.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after purchasing an additional 1,250,318 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

NVS stock opened at $113.80 on Friday. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92. The business has a 50-day moving average price of $116.44 and a 200 day moving average price of $108.42. The company has a market capitalization of $232.61 billion, a P/E ratio of 15.36, a PEG ratio of 1.66 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus price target of $120.70.

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.