West Coast Financial LLC lowered its stake in shares of Novartis AG (NYSE:NVS) by 20.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,657 shares of the company’s stock after selling 1,705 shares during the quarter. West Coast Financial LLC’s holdings in Novartis were worth $559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Naples Global Advisors LLC boosted its holdings in Novartis by 8.5% during the fourth quarter. Naples Global Advisors LLC now owns 18,484 shares of the company’s stock worth $1,552,000 after buying an additional 1,444 shares during the last quarter. McCollum Christoferson Group LLC bought a new position in Novartis during the fourth quarter worth about $4,248,000. Syntal Capital Partners LLC bought a new position in Novartis during the fourth quarter worth about $251,000. Heritage Way Advisors LLC boosted its holdings in Novartis by 110.0% during the fourth quarter. Heritage Way Advisors LLC now owns 57,958 shares of the company’s stock worth $4,866,000 after buying an additional 30,354 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its holdings in Novartis by 75.1% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 17,558 shares of the company’s stock worth $1,474,000 after buying an additional 7,530 shares during the last quarter. Hedge funds and other institutional investors own 10.85% of the company’s stock.
NVS has been the topic of several recent analyst reports. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Nord/LB reiterated a “neutral” rating on shares of Novartis in a report on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Tuesday, October 31st. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Monday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.32.
Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The business had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same quarter last year, the firm earned $1.23 EPS. Novartis’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts anticipate that Novartis AG will post 4.79 earnings per share for the current year.
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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