Rhumbline Advisers Reduces Position in Novartis AG (NYSE:NVS)

Rhumbline Advisers lessened its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,754 shares of the company's stock after selling 5,636 shares during the quarter. Rhumbline Advisers' holdings in Novartis were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Centaurus Financial Inc. boosted its stake in shares of Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company's stock worth $659,000 after acquiring an additional 98 shares during the last quarter. Allen Wealth Management LLC boosted its stake in shares of Novartis by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company's stock worth $666,000 after acquiring an additional 100 shares during the last quarter. WealthPlan Investment Management LLC raised its position in shares of Novartis by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company's stock valued at $1,092,000 after purchasing an additional 100 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Novartis by 1.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,913 shares of the company's stock valued at $910,000 after purchasing an additional 102 shares during the period. Finally, Angeles Wealth Management LLC raised its position in shares of Novartis by 3.5% during the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company's stock valued at $316,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on NVS shares. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Erste Group Bank restated a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. Barclays restated an "underweight" rating on shares of Novartis in a research report on Monday, February 3rd. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an "underweight" rating on the stock. Finally, HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Novartis presently has an average rating of "Hold" and an average target price of $123.38.

Novartis Price Performance

NYSE NVS traded up $0.43 on Wednesday, reaching $111.85. The company had a trading volume of 1,770,048 shares, compared to its average volume of 2,074,565. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $228.62 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The firm's 50 day moving average price is $103.38 and its 200 day moving average price is $107.98. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping 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%. As a group, equities analysts predict that Novartis AG will post 8.45 earnings per share for the current 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.