Novartis AG (NYSE:NVS) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA reduced its position in Novartis AG (NYSE:NVSFree Report) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,566 shares of the company’s stock after selling 6,276 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Novartis were worth $2,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the third quarter worth $28,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis during the fourth quarter worth $27,000. Fortitude Family Office LLC grew its holdings in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Novartis during the third quarter worth $43,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Novartis during the fourth quarter worth $55,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on NVS

Novartis Stock Up 0.0 %

Shares of NVS opened at $105.49 on Tuesday. The stock has a market capitalization of $215.61 billion, a PE ratio of 17.94, a P/E/G ratio of 1.51 and a beta of 0.58. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. 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 company’s 50-day simple moving average is $100.10 and its 200-day simple moving average is $108.43.

Novartis (NYSE:NVSGet Free Report) last released its earnings results on Friday, January 31st. The company reported $1.98 earnings per share 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%. Analysts forecast that Novartis AG will post 8.34 earnings per share for the current fiscal year.

About Novartis

(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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