Horizon Kinetics Asset Management LLC Sells 403 Shares of Novartis AG $NVS

Horizon Kinetics Asset Management LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,144 shares of the company’s stock after selling 403 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Novartis were worth $1,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in Novartis by 76.5% during the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after buying an additional 2,666 shares during the last quarter. IFP Advisors Inc boosted its holdings in Novartis by 23.5% in the first quarter. IFP Advisors Inc now owns 2,137 shares of the company’s stock worth $238,000 after acquiring an additional 407 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Novartis by 19.6% during the first quarter. Allianz Asset Management GmbH now owns 6,700 shares of the company’s stock worth $747,000 after acquiring an additional 1,100 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of Novartis by 7.8% during the first quarter. AE Wealth Management LLC now owns 6,709 shares of the company’s stock valued at $748,000 after acquiring an additional 488 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Novartis by 10.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 33,005 shares of the company’s stock valued at $3,679,000 after purchasing an additional 3,067 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on NVS shares. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley upgraded shares of Novartis from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 31st. Cfra set a $126.00 target price on Novartis and gave the company a “hold” rating in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. Finally, Cfra Research raised Novartis to a “hold” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $122.33.

Novartis Stock Down 0.5%

NYSE:NVS opened at $126.61 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. The company’s fifty day moving average price is $127.70 and its 200-day moving average price is $122.09. Novartis AG has a 1-year low of $96.06 and a 1-year high of $134.00. The firm has a market capitalization of $267.45 billion, a P/E ratio of 17.30, a PEG ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). The business had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. Novartis’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 earnings per share. As a group, equities research analysts anticipate that Novartis AG will post 8.45 EPS 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.