Carnegie Investment Counsel Decreases Holdings in Novartis AG (NYSE:NVS)

Carnegie Investment Counsel reduced its position in shares of Novartis AG (NYSE:NVS) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,669 shares of the company’s stock after selling 200 shares during the quarter. Carnegie Investment Counsel’s holdings in Novartis were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in Novartis during the 2nd quarter valued at about $22,979,000. Brighton Jones LLC raised its holdings in Novartis by 10.1% during the second quarter. Brighton Jones LLC now owns 5,399 shares of the company’s stock valued at $575,000 after acquiring an additional 495 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Novartis by 3.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,559 shares of the company’s stock worth $698,000 after purchasing an additional 232 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Novartis in the 2nd quarter worth $64,610,000. Finally, King Luther Capital Management Corp grew its holdings in Novartis by 5.0% during the 2nd quarter. King Luther Capital Management Corp now owns 9,523 shares of the company’s stock valued at $1,014,000 after buying an additional 456 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Novartis Stock Down 0.4 %

Novartis stock opened at $97.51 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a market cap of $199.30 billion, a PE ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. The business’s 50-day simple moving average is $100.61 and its two-hundred day simple moving average is $108.99.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the firm earned $1.74 EPS. Equities analysts anticipate that Novartis AG will post 7.63 EPS for the current year.

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.