Personal CFO Solutions LLC Decreases Stock Position in Novartis AG (NYSE:NVS)

Personal CFO Solutions LLC cut its holdings in Novartis AG (NYSE:NVS) by 38.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,021 shares of the company’s stock after selling 1,887 shares during the quarter. Personal CFO Solutions LLC’s holdings in Novartis were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its stake in Novartis by 10.3% in the fourth quarter. Continuum Advisory LLC now owns 1,021 shares of the company’s stock valued at $99,000 after buying an additional 95 shares during the last quarter. Intergy Private Wealth LLC raised its stake in Novartis by 3.9% in the first quarter. Intergy Private Wealth LLC now owns 2,757 shares of the company’s stock valued at $307,000 after buying an additional 104 shares during the last quarter. Keudell Morrison Wealth Management raised its stake in Novartis by 3.8% in the first quarter. Keudell Morrison Wealth Management now owns 2,828 shares of the company’s stock valued at $315,000 after buying an additional 104 shares during the last quarter. D Orazio & Associates Inc. raised its stake in Novartis by 2.9% in the first quarter. D Orazio & Associates Inc. now owns 3,795 shares of the company’s stock valued at $423,000 after buying an additional 108 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in Novartis by 4.7% in the first quarter. Opal Wealth Advisors LLC now owns 2,515 shares of the company’s stock valued at $280,000 after buying an additional 112 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BNP Paribas upgraded Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus price target of $123.67.

Novartis Trading Up 1.0%

Shares of NYSE:NVS opened at $122.95 on Thursday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $124.45. The stock has a market cap of $259.72 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.67 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $115.63 and a 200-day moving average price of $109.42.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.12 by $0.16. The firm had revenue of $13.23 billion for the quarter, compared to analyst estimates of $12.92 billion. Novartis had a return on equity of 39.44% and a net margin of 24.70%. Novartis’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. Equities analysts predict that Novartis AG will post 8.45 EPS for the current year.

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.