Novartis AG (NYSE:NVS) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lessened its stake in shares of Novartis AG (NYSE:NVSFree Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,669 shares of the company’s stock after selling 200 shares during the period. Carnegie Investment Counsel’s holdings in Novartis were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in Novartis in the 2nd quarter valued at about $22,979,000. Brighton Jones LLC lifted its position in Novartis by 10.1% in the second quarter. Brighton Jones LLC now owns 5,399 shares of the company’s stock valued at $575,000 after buying an additional 495 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Novartis by 3.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,559 shares of the company’s stock valued at $698,000 after purchasing an additional 232 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Novartis during the 2nd quarter worth about $64,610,000. Finally, King Luther Capital Management Corp boosted its stake in shares of Novartis by 5.0% in the second quarter. King Luther Capital Management Corp now owns 9,523 shares of the company’s stock valued at $1,014,000 after purchasing an additional 456 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVS has been the topic of several recent research reports. BMO Capital Markets upped their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $121.50.

Get Our Latest Analysis on Novartis

Novartis Trading Down 0.4 %

NYSE:NVS opened at $97.51 on Friday. The stock has a fifty day moving average price of $100.61 and a two-hundred day moving average price of $108.99. 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 stock has a market capitalization of $199.30 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVSGet Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the business earned $1.74 earnings per share. As a group, sell-side analysts anticipate that Novartis AG will post 7.63 earnings per share for the current fiscal year.

Novartis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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