Novartis AG (NYSE:NVS) Shares Sold by Choreo LLC

Choreo LLC trimmed its position in Novartis AG (NYSE:NVS) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,787 shares of the company’s stock after selling 652 shares during the quarter. Choreo LLC’s holdings in Novartis were worth $2,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares in the last quarter. Centaurus Financial Inc. raised its stake in 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 in the last quarter. FLC Capital Advisors raised its stake in Novartis by 4.4% during the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock worth $272,000 after acquiring an additional 100 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Novartis by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares in the last quarter. Finally, Allen Wealth Management LLC raised its stake in 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 in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVS has been the topic of several research analyst reports. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. 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. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Trading Down 2.6 %

NYSE NVS opened at $106.95 on Friday. 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 firm has a market cap of $218.60 billion, a PE ratio of 18.19, a P/E/G ratio of 1.51 and a beta of 0.58. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The firm’s fifty day moving average is $100.28 and its two-hundred day moving average is $108.42.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.79%. Analysts expect that Novartis AG will post 8.34 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.