Community Financial Services Group LLC Has $5.25 Million Position in Novartis AG (NYSE:NVS)

Community Financial Services Group LLC cut its position in Novartis AG (NYSE:NVS) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,952 shares of the company’s stock after selling 236 shares during the quarter. Community Financial Services Group LLC’s holdings in Novartis were worth $5,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in shares of Novartis in the 3rd quarter worth about $28,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis during the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its position in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after purchasing an additional 267 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Novartis during the fourth quarter valued at approximately $55,000. Finally, Beaird Harris Wealth Management LLC raised its stake in shares of Novartis by 280.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock worth $81,000 after purchasing an additional 519 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVS. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday. 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 reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average target price of $123.38.

Novartis Price Performance

NYSE NVS opened at $107.73 on Wednesday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a market capitalization of $220.20 billion, a price-to-earnings ratio of 18.32, a PEG 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 0.90. The business’s fifty day moving average price is $100.36 and its 200-day moving average price is $108.37.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, equities analysts predict that Novartis AG will post 8.42 earnings per share for the current year.

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.