Clearbridge Investments LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,818 shares of the company’s stock after selling 3,093 shares during the quarter. Clearbridge Investments LLC’s holdings in Novartis were worth $65,054,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC bought a new stake in Novartis during the 3rd quarter worth about $106,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Novartis during the 4th quarter worth about $113,000. Calton & Associates Inc. bought a new stake in Novartis during the 4th quarter worth about $118,000. SeaCrest Wealth Management LLC bought a new stake in Novartis during the 4th quarter worth about $124,000. Finally, Trustcore Financial Services LLC bought a new stake in Novartis during the 4th quarter worth about $178,000. 10.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE NVS) opened at $82.91 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31. The stock has a market cap of $216,010.00, a PE ratio of 25.28, a PEG ratio of 1.92 and a beta of 0.78. Novartis AG has a fifty-two week low of $72.67 and a fifty-two week high of $94.19.
NVS has been the topic of several analyst reports. Nord/LB reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, January 2nd. Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $87.51.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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