BerganKDV Wealth Management LLC Reduces Stake in Novartis AG (NVS)
BerganKDV Wealth Management LLC lowered its stake in Novartis AG (NYSE:NVS) by 21.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,808 shares of the company’s stock after selling 1,330 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Novartis were worth $404,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. WFG Advisors LP increased its stake in shares of Novartis by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after buying an additional 337 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Novartis in the third quarter valued at approximately $106,000. Cable Hill Partners LLC increased its stake in shares of Novartis by 588.8% in the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after buying an additional 1,107 shares during the period. Harding Loevner LP acquired a new position in shares of Novartis in the second quarter valued at approximately $146,000. Finally, Sawyer & Company Inc acquired a new position in shares of Novartis in the fourth quarter valued at approximately $183,000. 10.85% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Nord/LB reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, September 26th. Barclays downgraded Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, Leerink Swann upped their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.32.
Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. equities research analysts forecast that Novartis AG will post 4.77 earnings per share for the current fiscal year.
Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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