Marcum Wealth LLC Sells 306 Shares of Novartis AG (NYSE:NVS)

Marcum Wealth LLC reduced its position in shares of Novartis AG (NYSE:NVS) by 10.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,630 shares of the company’s stock after selling 306 shares during the quarter. Marcum Wealth LLC’s holdings in Novartis were worth $240,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Capital Management LLC boosted its holdings in Novartis by 393.8% in the first quarter. Cullen Capital Management LLC now owns 2,592,668 shares of the company’s stock valued at $221,621,000 after acquiring an additional 2,067,642 shares during the last quarter. Parnassus Investments CA bought a new stake in Novartis in the first quarter valued at approximately $79,608,000. BlackRock Inc. boosted its holdings in Novartis by 80.4% in the first quarter. BlackRock Inc. now owns 1,250,230 shares of the company’s stock valued at $106,870,000 after acquiring an additional 557,281 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Novartis by 3.2% in the second quarter. Fisher Asset Management LLC now owns 9,962,426 shares of the company’s stock valued at $908,972,000 after acquiring an additional 304,823 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Novartis by 4,088.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 201,654 shares of the company’s stock valued at $17,237,000 after acquiring an additional 196,839 shares during the last quarter. Institutional investors own 9.90% of the company’s stock.

Shares of NYSE:NVS opened at $84.38 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. Novartis AG has a twelve month low of $77.04 and a twelve month high of $98.52. The stock’s 50 day moving average is $91.23 and its 200-day moving average is $89.38. The firm has a market capitalization of $188.74 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.07 and a beta of 0.54.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, July 20th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.14. Novartis had a return on equity of 25.25% and a net margin of 17.83%. The company had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.41 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Novartis’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Novartis AG will post 6.28 earnings per share for the current fiscal year.

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Novartis from a “buy” rating to a “hold” rating in a research note on Thursday, July 22nd. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating and set a $96.00 price target on the stock. in a research note on Monday, July 26th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research note on Wednesday, July 28th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $104.33.

Novartis Company Profile

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

Featured Story: Forex

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.