Lake Street Advisors Group LLC Lowers Stake in Novartis AG (NYSE:NVS)

Lake Street Advisors Group LLC cut its holdings in Novartis AG (NYSE:NVS) by 55.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,645 shares of the company’s stock after selling 9,474 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Novartis were worth $744,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Foundations Investment Advisors LLC increased its position in Novartis by 26.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after acquiring an additional 18,894 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Novartis by 20.1% in the 4th quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after purchasing an additional 5,164 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Novartis by 135.5% in the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after purchasing an additional 22,998 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Novartis during the fourth quarter worth approximately $239,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Novartis by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock worth $18,088,000 after purchasing an additional 18,990 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 1.5 %

Shares of 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 current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $220.64 billion, a P/E ratio of 18.36, a PEG ratio of 1.70 and a beta of 0.58. The firm’s 50-day moving average is $102.12 and its two-hundred day moving average is $108.08.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NVS shares. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $123.38.

About Novartis

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.