Bruderman Asset Management LLC reduced its position in Novartis AG (NYSE:NVS) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,908 shares of the company’s stock after selling 1,340 shares during the quarter. Bruderman Asset Management LLC’s holdings in Novartis were worth $748,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in shares of Novartis during the second quarter worth about $241,000. Bartlett & Co. LLC boosted its position in Novartis by 1.6% in the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after buying an additional 7,249 shares during the last quarter. Capital Bank & Trust Co boosted its position in Novartis by 5.5% in the third quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock valued at $11,865,000 after buying an additional 7,201 shares during the last quarter. Atlantic Trust Group LLC lifted its holdings in Novartis by 54.2% in the third quarter. Atlantic Trust Group LLC now owns 72,427 shares of the company’s stock valued at $6,218,000 after acquiring an additional 25,452 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Novartis in the third quarter valued at approximately $1,245,000. Institutional investors own 11.06% of the company’s stock.
A number of brokerages have issued reports on NVS. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a report on Tuesday, October 24th. Nord/LB reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Bank of America downgraded Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Leerink Swann increased their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.32.
Novartis (NYSE:NVS) last issued its earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion for the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. analysts forecast that Novartis AG will post 5.36 earnings per share for the current year.
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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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