Rockefeller Capital Management L.P. Lowers Stock Position in Novartis AG (NYSE:NVS)

Rockefeller Capital Management L.P. reduced its position in Novartis AG (NYSE:NVS) by 4.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 105,613 shares of the company’s stock after selling 4,910 shares during the period. Rockefeller Capital Management L.P.’s holdings in Novartis were worth $12,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in shares of Novartis by 1.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 16,234 shares of the company’s stock worth $1,867,000 after purchasing an additional 248 shares during the period. Fiduciary Trust Co increased its position in Novartis by 1.2% during the 3rd quarter. Fiduciary Trust Co now owns 49,957 shares of the company’s stock worth $5,746,000 after purchasing an additional 600 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Novartis in the third quarter valued at approximately $779,000. Townsquare Capital LLC raised its holdings in Novartis by 38.4% in the third quarter. Townsquare Capital LLC now owns 42,759 shares of the company’s stock valued at $4,918,000 after buying an additional 11,866 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its stake in Novartis by 156,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,562 shares of the company’s stock worth $180,000 after buying an additional 1,561 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the topic of a number of research reports. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. BMO Capital Markets boosted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Trading Down 0.9 %

Shares of NVS opened at $104.81 on Tuesday. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The stock has a 50-day moving average price of $110.48 and a 200 day moving average price of $110.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market capitalization of $214.23 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.52 and a beta of 0.58.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the prior year, the business posted $1.74 EPS. Sell-side analysts forecast that Novartis AG will post 7.66 EPS for the current fiscal year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of 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.