Novartis AG (NYSE:NVS) Shares Sold by Aberdeen Wealth Management LLC

Aberdeen Wealth Management LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 7.3% during the third quarter, HoldingsChannel reports. The firm owned 12,730 shares of the company’s stock after selling 1,000 shares during the period. Novartis accounts for 1.0% of Aberdeen Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Aberdeen Wealth Management LLC’s holdings in Novartis were worth $1,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Founders Financial Securities LLC lifted its position in Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after acquiring an additional 94 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares in the last quarter. NBC Securities Inc. increased its stake in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after buying an additional 97 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after buying an additional 98 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. BMO Capital Markets lifted 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Performance

Novartis stock opened at $103.06 on Tuesday. The company has a market cap of $210.65 billion, a PE ratio of 11.97, a P/E/G ratio of 1.49 and a beta of 0.58. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a fifty day moving average price of $112.86 and a two-hundred day moving average price of $110.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last released its quarterly earnings data 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 net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. Research analysts expect that Novartis AG will post 7.63 earnings per share 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.