C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 661 Shares of Novartis AG (NYSE:NVS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors cut its position in Novartis AG (NYSE:NVS) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,436 shares of the company’s stock after selling 661 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Novartis were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC raised its position in shares of Novartis by 15.7% during the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after acquiring an additional 231,851 shares during the last quarter. FMR LLC raised its position in shares of Novartis by 5.5% during the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock worth $155,669,000 after acquiring an additional 70,314 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in shares of Novartis by 4.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock worth $112,990,000 after acquiring an additional 52,044 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Novartis by 2.9% during 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 last quarter. Finally, Bank of Montreal Can raised 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 acquiring an additional 123,077 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Up 0.3 %

Shares of NYSE:NVS opened at $107.26 on Friday. The stock has a market cap of $219.23 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.69 and a beta of 0.58. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The business’s 50 day moving average is $101.06 and its 200 day moving average is $108.15.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVS shares. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Company 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.