Lockheed Martin Investment Management Co. lessened its stake in shares of Novartis AG (NYSE:NVS – Free Report) by 32.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,300 shares of the company’s stock after selling 27,900 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Novartis were worth $7,900,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Berkeley Capital Partners LLC raised its holdings in Novartis by 15.3% during the fourth quarter. Berkeley Capital Partners LLC now owns 2,384 shares of the company’s stock worth $329,000 after buying an additional 317 shares during the last quarter. Western Wealth Management LLC raised its holdings in Novartis by 43.0% during the fourth quarter. Western Wealth Management LLC now owns 2,884 shares of the company’s stock worth $398,000 after buying an additional 867 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Novartis by 49.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,875 shares of the company’s stock worth $672,000 after buying an additional 1,604 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in Novartis by 16.2% during the fourth quarter. Liberty Wealth Management LLC now owns 2,182 shares of the company’s stock worth $301,000 after buying an additional 305 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in Novartis by 45.8% during the fourth quarter. Independent Advisor Alliance now owns 7,846 shares of the company’s stock worth $1,082,000 after buying an additional 2,463 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on NVS shares. Sanford C. Bernstein upgraded shares of Novartis to a “hold” rating in a report on Thursday, March 19th. Citigroup restated a “buy” rating on shares of Novartis in a report on Thursday, February 5th. Wall Street Zen downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen restated a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Finally, Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.20.
Novartis Stock Performance
Shares of NVS stock opened at $148.00 on Friday. The firm has a 50-day moving average of $150.98 and a 200-day moving average of $144.91. The company has a market cap of $282.40 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65. Novartis AG has a one year low of $107.96 and a one year high of $170.46.
Novartis (NYSE:NVS – Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.12). The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. Equities research analysts forecast that Novartis AG will post 8.85 EPS for the current fiscal year.
Novartis Company Profile
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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