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

Wealth Alliance reduced its position in Novartis AG (NYSE:NVSFree Report) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. McCarthy Grittinger Financial Group LLC purchased a new position in Novartis during the 3rd quarter worth $25,000. Fortis Capital Advisors LLC purchased a new position in shares of Novartis during the fourth quarter worth about $27,000. Mine & Arao Wealth Creation & Management LLC. raised its stake in Novartis by 49.5% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 299 shares of the company’s stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its position in Novartis by 118.1% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 301 shares of the company’s stock worth $30,000 after acquiring an additional 163 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in Novartis during the 4th quarter worth approximately $35,000. 7.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on Novartis

Novartis Price Performance

Novartis stock opened at $101.03 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 1.15. Novartis AG has a one year low of $79.98 and a one year high of $108.78. The company has a market cap of $214.14 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56. The business has a fifty day moving average of $102.77 and a two-hundred day moving average of $100.27.

Novartis (NYSE:NVSGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a return on equity of 29.90% and a net margin of 29.83%. The company had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period in the prior year, the firm posted $1.51 EPS. As a group, analysts predict that Novartis AG will post 7.19 earnings per share for the current fiscal year.

About Novartis

(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.

Featured Articles

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:NVSFree Report).

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.