Kingsview Wealth Management LLC Trims Stock Holdings in Novartis AG (NYSE:NVS)

Kingsview Wealth Management LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,450 shares of the company’s stock after selling 224 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Novartis were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new position in Novartis in the fourth quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new position in Novartis in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC increased its position in Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares during the period. Brooklyn Investment Group purchased a new stake in Novartis during the 4th quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in Novartis during the 4th quarter worth approximately $69,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS opened at $106.98 on Thursday. The company has a market capitalization of $218.67 billion, a PE ratio of 18.19, a P/E/G ratio of 1.70 and a beta of 0.58. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a 50-day simple moving average of $100.43 and a 200-day simple moving average of $108.35. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Equities research analysts predict that Novartis AG will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVS. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. BMO Capital Markets boosted their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Novartis in a research note on Wednesday. They set an “underweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Company 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.