Callan Capital LLC Has $1.10 Million Stock Holdings in Novartis AG (NYSE:NVS)

Callan Capital LLC cut its holdings in Novartis AG (NYSE:NVS) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,319 shares of the company’s stock after selling 950 shares during the quarter. Callan Capital LLC’s holdings in Novartis were worth $1,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. increased its position in Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after purchasing an additional 98 shares during the period. Clear Harbor Asset Management LLC increased its position in Novartis by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after purchasing an additional 100 shares during the period. Allen Wealth Management LLC grew its position in shares of Novartis by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock worth $666,000 after buying an additional 100 shares during the period. WealthPlan Investment Management LLC grew its position in shares of Novartis by 1.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,494 shares of the company’s stock worth $1,092,000 after buying an additional 100 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in shares of Novartis by 1.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,913 shares of the company’s stock worth $910,000 after buying an additional 102 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NYSE NVS opened at $109.42 on Friday. The stock’s fifty day moving average price is $101.24 and its two-hundred day moving average price is $108.15. The firm has a market cap of $223.65 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. Novartis AG has a one year low of $92.35 and a one year high of $120.92.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NVS shares. Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned 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 presently has a consensus rating of “Hold” and a consensus price target 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.