Rockefeller Capital Management L.P. Cuts Holdings in Novartis AG (NYSE:NVS)

Rockefeller Capital Management L.P. lessened its position in shares of Novartis AG (NYSE:NVS - Free Report) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,613 shares of the company's stock after selling 4,910 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Novartis were worth $12,140,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVS. New Millennium Group LLC purchased a new stake in Novartis during the second quarter valued at $28,000. Lynx Investment Advisory purchased a new position in Novartis in the second quarter worth about $29,000. Industrial Alliance Investment Management Inc. purchased a new position in Novartis in the second quarter worth about $30,000. Richardson Financial Services Inc. purchased a new stake in Novartis during the 2nd quarter valued at $30,000. Finally, Strategic Financial Concepts LLC purchased a new position in Novartis during the second quarter worth $35,000. Institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.2 %

NVS stock traded down $0.23 during trading on Tuesday, reaching $104.57. 857,592 shares of the company traded hands, compared to its average volume of 1,334,778. The business has a 50 day simple moving average of $110.25 and a 200 day simple moving average of $110.31. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. 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 $213.73 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.51 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the firm earned $1.74 EPS. On average, equities research analysts anticipate that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NVS shares. BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Erste Group Bank restated a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. The Goldman Sachs Group reiterated a "neutral" rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America cut shares of Novartis from a "buy" rating to a "neutral" rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Finally, Jefferies Financial Group lowered shares of Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $121.50.

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.