Oppenheimer Asset Management Inc. Has $22.28 Million Holdings in Novartis AG (NYSE:NVS)

Oppenheimer Asset Management Inc. trimmed its stake in shares of Novartis AG (NYSE:NVS) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 228,994 shares of the company’s stock after selling 907 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Novartis were worth $22,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Novartis in the 3rd quarter valued at $19,878,000. J.W. Cole Advisors Inc. grew its position in shares of Novartis by 4.2% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,310 shares of the company’s stock worth $726,000 after buying an additional 257 shares during the period. Fortitude Family Office LLC raised its stake 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 during the last quarter. Integrated Advisors Network LLC acquired a new position in Novartis in the third quarter valued at approximately $270,000. Finally, Diversify Advisory Services LLC boosted its stake in Novartis by 78.8% in the third quarter. Diversify Advisory Services LLC now owns 4,720 shares of the company’s stock valued at $540,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

NVS opened at $107.95 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market capitalization of $220.64 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.70 and a beta of 0.58. The business’s 50-day moving average price is $102.12 and its two-hundred day moving average price is $108.08. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVS. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Barclays reissued an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $123.38.

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.