Cyndeo Wealth Partners LLC Has $460,000 Position in Novartis AG (NYSE:NVS)

Cyndeo Wealth Partners LLC raised its position in Novartis AG (NYSE:NVS) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,725 shares of the company’s stock after buying an additional 123 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Novartis were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. raised its stake in shares of Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after acquiring an additional 95 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after buying an additional 98 shares during the period. FLC Capital Advisors boosted its holdings in shares of Novartis by 4.4% in the third quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after buying an additional 100 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Novartis by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock valued at $509,000 after buying an additional 100 shares during the period. Finally, Allen Wealth Management LLC boosted its holdings in shares of Novartis by 1.8% in the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after buying an additional 100 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.1 %

Novartis stock opened at $99.93 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a 50 day moving average price of $100.09 and a two-hundred day moving average price of $108.69. The firm has a market cap of $204.25 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.42 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter last year, the firm posted $1.74 EPS. Equities analysts predict that Novartis AG will post 7.62 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVS. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, BMO Capital Markets raised their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Novartis has an average rating of “Hold” and an average 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.