Novartis AG (NYSE:NVS) Shares Sold by Welch Group LLC

Welch Group LLC decreased its holdings in Novartis AG (NYSE:NVS) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,458 shares of the company’s stock after selling 384 shares during the quarter. Welch Group LLC’s holdings in Novartis were worth $921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. World Investment Advisors LLC acquired a new stake in Novartis in the third quarter worth about $30,063,000. Fisher Asset Management LLC raised its position in shares of Novartis by 15.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock valued at $196,225,000 after purchasing an additional 231,851 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Novartis in the 3rd quarter valued at approximately $24,096,000. Public Employees Retirement System of Ohio purchased a new stake in Novartis during the 3rd quarter worth approximately $21,078,000. Finally, International Assets Investment Management LLC purchased a new stake in Novartis during the 3rd quarter worth approximately $19,878,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Up 0.8 %

Shares of NVS stock opened at $105.54 on Tuesday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The stock has a market cap of $215.72 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.51 and a beta of 0.58. The stock has a 50 day moving average of $100.10 and a 200 day moving average of $108.43. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted 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%. As a group, sell-side analysts expect that Novartis AG will post 8.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NVS shares. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. StockNews.com lowered Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.38.

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.