RNC Capital Management LLC Sells 137 Shares of Novartis AG (NYSE:NVS)

RNC Capital Management LLC cut its position in Novartis AG (NYSE:NVS) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,545 shares of the company’s stock after selling 137 shares during the quarter. RNC Capital Management LLC’s holdings in Novartis were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVS. Legacy Investment Solutions LLC acquired a new position in shares of Novartis during the third quarter valued at about $28,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its holdings in Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares during the period. Brooklyn Investment Group bought a new position in Novartis in the 4th quarter worth approximately $55,000. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Novartis by 280.5% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after purchasing an additional 519 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVS shares. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday. StockNews.com lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets lifted their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.38.

Novartis Stock Down 2.6 %

NYSE:NVS opened at $106.95 on Friday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The stock has a market capitalization of $218.60 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The company’s 50-day simple moving average is $100.28 and its 200-day simple moving average is $108.42.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) 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 37.79%. On average, equities analysts anticipate that Novartis AG will post 8.34 earnings per share for the current fiscal 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.