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

Atlantic Union Bankshares Corp reduced its holdings in Novartis AG (NYSE:NVS) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,503 shares of the company’s stock after selling 208 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Novartis were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NVS. Human Investing LLC purchased a new position in shares of Novartis in the fourth quarter valued at $25,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis during the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Novartis in the 3rd quarter worth about $28,000. Kestra Investment Management LLC bought a new position in Novartis in the fourth quarter worth about $47,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Novartis during the 4th quarter worth approximately $55,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NVS stock opened at $115.60 on Friday. The company has a market capitalization of $236.29 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company’s 50 day moving average price is $104.02 and its two-hundred day moving average price is $107.95.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novartis has an average rating of “Hold” and an average price target of $123.38.

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.