Novartis AG (NYSE:NVS) Shares Sold by Wealth Alliance

Wealth Alliance lowered its position in shares of Novartis AG (NYSE:NVSFree Report) by 9.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,597 shares of the company’s stock after selling 392 shares during the quarter. Wealth Alliance’s holdings in Novartis were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Syon Capital LLC acquired a new position in shares of Novartis in the 3rd quarter valued at about $6,568,000. Global Retirement Partners LLC lifted its position in Novartis by 3.4% in the 3rd quarter. Global Retirement Partners LLC now owns 4,544 shares of the company’s stock worth $437,000 after buying an additional 150 shares in the last quarter. RFP Financial Group LLC boosted its stake in shares of Novartis by 308.9% during the 2nd quarter. RFP Financial Group LLC now owns 3,177 shares of the company’s stock valued at $321,000 after buying an additional 2,400 shares during the period. Cetera Advisor Networks LLC boosted its stake in shares of Novartis by 10.3% during the 2nd quarter. Cetera Advisor Networks LLC now owns 68,805 shares of the company’s stock valued at $6,943,000 after buying an additional 6,451 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Novartis by 2.1% in the third quarter. Principal Financial Group Inc. now owns 2,539,265 shares of the company’s stock valued at $258,650,000 after purchasing an additional 51,391 shares in the last quarter. Institutional investors and hedge funds own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Novartis in a research note on Wednesday, December 6th. They issued a “strong-buy” rating for the company. Morgan Stanley began coverage on shares of Novartis in a report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price on the stock. Finally, HSBC lowered Novartis from a “buy” rating to a “hold” rating in a research note on Monday, December 18th.

Read Our Latest Research Report on Novartis

Novartis Stock Performance

NYSE NVS opened at $101.03 on Monday. The company’s fifty day moving average is $102.77 and its two-hundred day moving average is $100.27. Novartis AG has a 52-week low of $79.98 and a 52-week high of $108.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.93. The firm has a market capitalization of $214.14 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.56 and a beta of 0.56.

Novartis (NYSE:NVSGet Free Report) last released its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). The firm had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. Novartis had a return on equity of 29.90% and a net margin of 29.83%. During the same period last year, the business earned $1.51 earnings per share. Equities research analysts forecast that Novartis AG will post 7.19 EPS for the current year.

Novartis Profile

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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