Graypoint LLC Sells 384 Shares of Novartis AG (NYSE:NVS)

Graypoint LLC reduced its position in Novartis AG (NYSE:NVS) by 10.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,357 shares of the company’s stock after selling 384 shares during the quarter. Graypoint LLC’s holdings in Novartis were worth $327,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NVS. Dimensional Fund Advisors LP raised its holdings in Novartis by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after buying an additional 1,389,610 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Novartis in the 2nd quarter worth about $64,610,000. Bank of Montreal Can lifted its position in Novartis by 343.5% in the 2nd quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock valued at $70,652,000 after acquiring an additional 509,567 shares in the last quarter. Wulff Hansen & CO. boosted its stake in Novartis by 10,528.6% during the 2nd quarter. Wulff Hansen & CO. now owns 324,171 shares of the company’s stock valued at $34,511,000 after purchasing an additional 321,121 shares during the last quarter. Finally, World Investment Advisors LLC bought a new stake in Novartis during the 3rd quarter worth approximately $30,063,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 1.2 %

NVS stock opened at $99.06 on Monday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a market cap of $202.48 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.49 and a beta of 0.57. The stock’s fifty day simple moving average is $101.55 and its two-hundred day simple moving average is $109.29. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the business earned $1.74 earnings per share. Analysts expect that Novartis AG will post 7.65 EPS for the current year.

Analyst Ratings Changes

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

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.