Eqis Capital Management Inc. trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,650 shares of the company’s stock after selling 863 shares during the quarter. Eqis Capital Management Inc.’s holdings in Novartis were worth $665,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Covenant Partners LLC lifted its position in shares of Novartis by 10.1% during the third quarter. Covenant Partners LLC now owns 10,002 shares of the company’s stock worth $870,000 after purchasing an additional 918 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its position in shares of Novartis by 7.8% during the third quarter. Summit Financial Wealth Advisors LLC now owns 2,960 shares of the company’s stock worth $236,000 after purchasing an additional 215 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Novartis during the third quarter worth $107,000. Hamel Associates Inc. lifted its position in shares of Novartis by 0.4% during the third quarter. Hamel Associates Inc. now owns 53,133 shares of the company’s stock worth $4,620,000 after purchasing an additional 215 shares during the last quarter. Finally, Edge Capital Group LLC lifted its position in shares of Novartis by 53.5% during the third quarter. Edge Capital Group LLC now owns 90,726 shares of the company’s stock worth $7,890,000 after purchasing an additional 31,613 shares during the last quarter. Institutional investors and hedge funds own 10.37% of the company’s stock.

NVS opened at $87.52 on Friday. The business’s 50-day moving average is $84.93 and its two-hundred day moving average is $86.05. Novartis AG has a 1 year low of $69.18 and a 1 year high of $99.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69. The firm has a market capitalization of $200.31 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.79 and a beta of 0.49.

Novartis (NYSE:NVS) last posted its earnings results on Sunday, November 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.07. Novartis had a return on equity of 24.39% and a net margin of 14.71%. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Novartis AG will post 5.76 EPS for the current year.

Several equities analysts have recently commented on NVS shares. Oddo Bhf lowered Novartis from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 23rd. Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. UBS Group upgraded Novartis from a “neutral” rating to a “buy” rating in a research note on Thursday, September 10th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Novartis in a research note on Tuesday, November 10th. Finally, Berenberg Bank started coverage on Novartis in a research note on Tuesday, September 29th. They set a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $116.00.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. Its Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, established, and cardiovascular, renal and metabolism medicine products.

Read More: What is an economic bubble?

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.