RNC Capital Management LLC Trims Stock Holdings in Novartis AG (NYSE:NVS)

RNC Capital Management LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,545 shares of the company’s stock after selling 137 shares during the quarter. RNC Capital Management LLC’s holdings in Novartis were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVS. Strategic Financial Concepts LLC purchased a new position in shares of Novartis in the 4th quarter valued at $2,591,000. Glassy Mountain Advisors Inc. raised its holdings in Novartis by 3.6% in the 4th quarter. Glassy Mountain Advisors Inc. now owns 50,559 shares of the company’s stock valued at $4,920,000 after acquiring an additional 1,776 shares during the last quarter. Telos Capital Management Inc. raised its holdings in Novartis by 3.9% in the 4th quarter. Telos Capital Management Inc. now owns 27,686 shares of the company’s stock valued at $2,694,000 after acquiring an additional 1,039 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of Novartis during the 4th quarter valued at $804,000. Finally, Bleakley Financial Group LLC boosted its position in Novartis by 4.4% during the 4th quarter. Bleakley Financial Group LLC now owns 53,363 shares of the company’s stock worth $5,193,000 after purchasing an additional 2,227 shares during the period. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE NVS opened at $106.95 on Friday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock 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. The firm has a 50-day moving average of $100.28 and a 200-day moving average of $108.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (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 37.79%. On average, sell-side analysts anticipate that Novartis AG will post 8.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVS. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets raised their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus target price of $123.38.

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.