Atomi Financial Group Inc. Trims Stake in Novartis AG (NYSE:NVS)

Atomi Financial Group Inc. lessened its position in Novartis AG (NYSE:NVS) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,933 shares of the company’s stock after selling 2,458 shares during the quarter. Atomi Financial Group Inc.’s holdings in Novartis were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

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

Novartis Trading Up 2.2 %

Novartis stock opened at $99.69 on Wednesday. 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 firm’s 50 day moving average price is $100.44 and its 200-day moving average price is $108.94. 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 $203.76 billion, a P/E ratio of 11.58, a PEG ratio of 1.34 and a beta of 0.57.

Novartis (NYSE:NVS) last announced 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 business had revenue of $12.82 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.74 EPS. On average, equities analysts predict that Novartis AG will post 7.63 earnings per share for the current fiscal year.

About Novartis

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.