Quadrant Capital Group LLC Sells 128 Shares of Novartis AG (NYSE:NVS)

Quadrant Capital Group LLC lowered its holdings in shares of Novartis AG (NYSE:NVS) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,112 shares of the company’s stock after selling 128 shares during the quarter. Quadrant Capital Group LLC’s holdings in Novartis were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. DT Investment Partners LLC acquired a new stake in shares of Novartis in the first quarter valued at about $26,000. Fortis Capital Advisors LLC bought a new stake in Novartis during the 4th quarter valued at approximately $27,000. Financial Management Professionals Inc. grew its holdings in Novartis by 750.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 289 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. increased its position in Novartis by 49.5% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 299 shares of the company’s stock worth $30,000 after buying an additional 99 shares during the period. Finally, ZRC Wealth Management LLC acquired a new position in shares of Novartis during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 7.00% of the company’s stock.

Novartis Stock Up 0.3 %

Shares of NVS stock opened at $94.07 on Friday. Novartis AG has a one year low of $79.98 and a one year high of $105.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a fifty day moving average price of $97.36 and a 200 day moving average price of $99.82. The stock has a market cap of $199.39 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.56.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Monday, October 23rd. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.04. Novartis had a return on equity of 28.27% and a net margin of 15.35%. The firm had revenue of $11.78 billion for the quarter, compared to analysts’ expectations of $12.05 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Analysts predict that Novartis AG will post 6.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Novartis in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Morgan Stanley upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a report on Monday, September 25th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

About Novartis

Novartis AG researches, develops, manufactures, and markets 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.