Wealthspire Advisors LLC Lowers Holdings in Novartis AG (NYSE:NVS)

Wealthspire Advisors LLC reduced its holdings in shares of Novartis AG (NYSE:NVS) by 13.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,810 shares of the company’s stock after selling 440 shares during the period. Wealthspire Advisors LLC’s holdings in Novartis were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVS. Fortitude Family Office LLC boosted its stake in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after acquiring an additional 267 shares during the period. Integrated Advisors Network LLC bought a new stake in shares of Novartis in the 3rd quarter valued at approximately $270,000. Diversify Advisory Services LLC lifted its stake in shares of Novartis by 78.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 4,720 shares of the company’s stock valued at $540,000 after purchasing an additional 2,080 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in shares of Novartis in the third quarter worth approximately $207,000. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Novartis by 0.6% in the third quarter. First Trust Direct Indexing L.P. now owns 22,769 shares of the company’s stock worth $2,619,000 after buying an additional 128 shares during the period. 13.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on NVS shares. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Morgan Stanley assumed coverage on Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating for the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, Barclays restated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Performance

NYSE:NVS opened at $108.91 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a market capitalization of $222.62 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The business’s fifty day moving average price is $102.36 and its 200 day moving average price is $108.08.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS 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%. On average, sell-side analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal 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.