Cable Hill Partners LLC Cuts Stock Holdings in Novartis AG (NYSE:NVS)

Cable Hill Partners LLC cut its position in shares of Novartis AG (NYSE:NVS) by 31.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,185 shares of the company’s stock after selling 3,748 shares during the quarter. Cable Hill Partners LLC’s holdings in Novartis were worth $796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Novartis during the 4th quarter valued at about $146,000. NewEdge Wealth LLC boosted its position in Novartis by 8.3% during the fourth quarter. NewEdge Wealth LLC now owns 424,648 shares of the company’s stock worth $41,322,000 after purchasing an additional 32,398 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock valued at $1,254,000 after purchasing an additional 100 shares during the period. Argonautica Private Wealth Management Inc. increased its position in shares of Novartis by 8.3% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 3,596 shares of the company’s stock valued at $350,000 after buying an additional 277 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Novartis by 1.9% during the 4th quarter. Denali Advisors LLC now owns 22,112 shares of the company’s stock worth $2,152,000 after buying an additional 417 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVS. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

NYSE:NVS opened at $107.95 on Thursday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a market cap of $220.64 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $102.12 and its 200-day moving average price is $108.08.

Novartis (NYSE:NVS) last released its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal 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.