TCW Group Inc. Sells 2,755 Shares of Novartis AG (NVS)

TCW Group Inc. lessened its holdings in shares of Novartis AG (NYSE:NVS) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,326 shares of the company’s stock after selling 2,755 shares during the quarter. TCW Group Inc.’s holdings in Novartis AG were worth $3,634,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Advisor Group Inc. increased its stake in Novartis AG by 11.0% during the 3rd quarter. Advisor Group Inc. now owns 43,905 shares of the company’s stock valued at $3,771,000 after purchasing an additional 4,334 shares in the last quarter. Lucas Capital Management bought a new stake in shares of Novartis AG in the 3rd quarter worth $232,000. Toronto Dominion Bank grew its stake in shares of Novartis AG by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 12,725 shares of the company’s stock worth $1,095,000 after acquiring an additional 2,469 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Novartis AG in the 3rd quarter worth $5,106,000. Finally, Private Wealth Partners LLC grew its stake in shares of Novartis AG by 450.0% in the 3rd quarter. Private Wealth Partners LLC now owns 20,900 shares of the company’s stock worth $1,794,000 after acquiring an additional 17,100 shares in the last quarter. Institutional investors and hedge funds own 11.00% of the company’s stock.

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NVS has been the subject of several recent analyst reports. Barclays PLC lowered shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, September 19th. Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $85.32.

Novartis AG (NYSE:NVS) traded up $0.42 during midday trading on Friday, reaching $83.02. 1,216,700 shares of the company’s stock traded hands, compared to its average volume of 2,326,717. The stock has a market capitalization of $219,750.00, a P/E ratio of 17.39, a PEG ratio of 2.63 and a beta of 0.72. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08.

Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The business had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. equities research analysts expect that Novartis AG will post 4.75 EPS for the current fiscal year.

About Novartis AG

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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