Traveka Wealth LLC Cuts Stock Holdings in Novartis AG (NYSE:NVS)

Traveka Wealth LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,304 shares of the company’s stock after selling 221 shares during the period. Traveka Wealth LLC’s holdings in Novartis were worth $321,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NVS. Steigerwald Gordon & Koch Inc. boosted its position in shares of Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after purchasing an additional 98 shares in the last quarter. FLC Capital Advisors grew its position in shares of Novartis by 4.4% in the third quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after purchasing an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Novartis by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after purchasing an additional 100 shares in the last quarter. Finally, Allen Wealth Management LLC raised its position in shares of Novartis by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after purchasing an additional 100 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Up 0.1 %

NVS opened at $99.20 on Tuesday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The business has a 50-day moving average of $101.33 and a two-hundred day moving average of $109.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The stock has a market capitalization of $202.76 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm 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 posted $1.74 earnings per share. On average, research analysts expect that Novartis AG will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVS. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, BMO Capital Markets upped their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $121.50.

Novartis 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.