Dakota Wealth Management Decreases Stake in Novartis AG (NYSE:NVS)

Dakota Wealth Management cut its stake in shares of Novartis AG (NYSE:NVS) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,345 shares of the company’s stock after selling 169 shares during the quarter. Dakota Wealth Management’s holdings in Novartis were worth $617,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Novartis by 115.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock worth $26,797,000 after buying an additional 124,111 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Novartis by 20.1% in the 4th quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock worth $3,001,000 after acquiring an additional 5,164 shares during the period. Quantbot Technologies LP increased its stake in Novartis by 135.5% in the 3rd quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after purchasing an additional 22,998 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Novartis by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock worth $18,088,000 after purchasing an additional 18,990 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Novartis by 2.9% during the third quarter. Natixis Advisors LLC now owns 938,844 shares of the company’s stock worth $107,986,000 after purchasing an additional 26,317 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets upped their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Price Performance

Novartis stock opened at $99.93 on Friday. The firm’s 50-day moving average is $100.15 and its two-hundred day moving average is $108.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The stock has a market capitalization of $204.25 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.42 and a beta of 0.57. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the previous year, the company earned $1.74 EPS. Equities analysts predict that Novartis AG will post 7.62 earnings per share for the current year.

Novartis 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.