Diversify Advisory Services LLC Trims Position in Novartis AG (NYSE:NVS)

Diversify Advisory Services LLC cut its holdings in Novartis AG (NYSE:NVS) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,592 shares of the company’s stock after selling 128 shares during the period. Diversify Advisory Services LLC’s holdings in Novartis were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new stake in Novartis in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC raised its position in shares of Novartis by 503.8% in the 3rd 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 period. Clean Yield Group purchased a new stake in Novartis during the third quarter valued at about $43,000. Brooklyn Investment Group acquired a new position in shares of Novartis in the 4th quarter valued at about $55,000. Finally, Versant Capital Management Inc raised its holdings in Novartis by 782.0% in the fourth quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock valued at $76,000 after buying an additional 696 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 2.2 %

NYSE NVS opened at $99.69 on Wednesday. The company has a market capitalization of $203.76 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The company’s fifty day moving average price is $100.44 and its two-hundred day moving average price is $108.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the prior year, the company earned $1.74 earnings per share. As a group, research analysts predict that Novartis AG will post 7.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on NVS shares. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets lifted 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. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.50.

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.