Wesbanco Bank Inc. Reduces Position in Novartis AG (NYSE:NVS)

Wesbanco Bank Inc. decreased its position in Novartis AG (NYSE:NVS) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,664 shares of the company’s stock after selling 405 shares during the period. Wesbanco Bank Inc.’s holdings in Novartis were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Steigerwald Gordon & Koch Inc. raised its stake 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 purchasing an additional 95 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after acquiring an additional 98 shares during the period. FLC Capital Advisors boosted its holdings in shares of Novartis by 4.4% in the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after acquiring an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Novartis by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares during the period. Finally, Allen Wealth Management LLC raised its holdings in shares of Novartis by 1.8% during the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of Novartis stock opened at $99.93 on Friday. The firm has a market cap of $204.25 billion, a PE ratio of 11.61, a P/E/G ratio of 1.42 and a beta of 0.57. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $100.15 and a 200 day moving average price of $108.75.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the company earned $1.74 earnings per share. Sell-side analysts predict that Novartis AG will post 7.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent research reports. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report 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. According to data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average 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.