Veracity Capital LLC Sells 132 Shares of Novartis AG (NYSE:NVS)

Veracity Capital LLC lowered its position in shares of Novartis AG (NYSE:NVS) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,828 shares of the company’s stock after selling 132 shares during the quarter. Veracity Capital LLC’s holdings in Novartis were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in Novartis by 15.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after buying an additional 231,851 shares during the period. FMR LLC lifted its position in shares of Novartis by 5.5% in the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock valued at $155,669,000 after acquiring an additional 70,314 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Novartis by 2.9% in the third quarter. Natixis Advisors LLC now owns 938,844 shares of the company’s stock worth $107,986,000 after acquiring an additional 26,317 shares during the period. Bank of Montreal Can grew its position in shares of Novartis by 18.7% during the third quarter. Bank of Montreal Can now owns 780,980 shares of the company’s stock worth $90,289,000 after purchasing an additional 123,077 shares in the last quarter. Finally, Creative Planning raised its stake in Novartis by 4.1% during the 3rd quarter. Creative Planning now owns 344,951 shares of the company’s stock valued at $39,676,000 after purchasing an additional 13,486 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVS. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Trading Up 1.9 %

NVS stock opened at $100.00 on Friday. The firm has a market cap of $204.40 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The firm has a fifty day moving average price of $100.22 and a 200 day moving average price of $108.81. 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.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS 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 business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the company posted $1.74 EPS. Sell-side analysts anticipate that Novartis AG will post 7.62 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.