Welch & Forbes LLC trimmed its stake in Novartis AG (NYSE:NVS - Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,073 shares of the company's stock after selling 2,503 shares during the quarter. Welch & Forbes LLC's holdings in Novartis were worth $6,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in NVS. Centaurus Financial Inc. increased its position in Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company's stock worth $659,000 after purchasing an additional 98 shares during the last quarter. WealthPlan Investment Management LLC grew its position in Novartis by 1.1% in the third quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company's stock worth $1,092,000 after acquiring an additional 100 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Novartis by 0.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company's stock worth $1,254,000 after purchasing an additional 100 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Novartis by 0.6% during the 4th quarter. Rothschild Investment LLC now owns 16,682 shares of the company's stock worth $1,623,000 after purchasing an additional 101 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in shares of Novartis by 2.6% during the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company's stock valued at $405,000 after purchasing an additional 106 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Novartis Stock Performance
Shares of NVS stock traded down $3.99 during trading hours on Tuesday, reaching $111.48. 2,021,182 shares of the company's stock were exchanged, compared to its average volume of 2,066,343. The business has a fifty day moving average price of $104.38 and a 200-day moving average price of $107.87. The stock has a market capitalization of $227.87 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.
Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Erste Group Bank reiterated a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They set an "underweight" rating on the stock. Barclays reissued an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Finally, HSBC lowered shares of Novartis from a "hold" rating to a "reduce" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novartis presently has a consensus rating of "Hold" and an average price target of $123.38.
Get Our Latest Analysis on NVS
Novartis Profile
(
Free Report)
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.
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