Ingalls & Snyder LLC reduced its position in Novartis AG (NYSE:NVS) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,772 shares of the company’s stock after selling 1,155 shares during the period. Ingalls & Snyder LLC’s holdings in Novartis were worth $5,802,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Novartis by 98.7% in the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after buying an additional 151 shares in the last quarter. Vigilant Capital Management LLC purchased a new stake in shares of Novartis in the second quarter worth about $37,000. Anderson Fisher LLC purchased a new stake in shares of Novartis in the second quarter worth about $39,000. Manchester Financial Inc. purchased a new stake in shares of Novartis in the second quarter worth about $45,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Novartis in the second quarter worth about $49,000. Institutional investors own 11.18% of the company’s stock.

A number of research firms recently commented on NVS. Argus boosted their target price on Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Five research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Novartis presently has a consensus rating of “Hold” and an average price target of $93.29.

Shares of NVS traded up $0.22 during mid-day trading on Wednesday, reaching $86.92. 88,560 shares of the company’s stock traded hands, compared to its average volume of 1,745,441. The stock has a market cap of $198.70 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.95 and a beta of 0.59. The stock’s 50-day moving average is $87.47 and its two-hundred day moving average is $87.75. Novartis AG has a 12 month low of $72.19 and a 12 month high of $95.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Novartis’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that Novartis AG will post 5.15 earnings per share for the current year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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