Cohen Capital Management Inc. Sells 1,175 Shares of Novartis AG (NYSE:NVS)

Cohen Capital Management Inc. reduced its stake in Novartis AG (NYSE:NVS) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,903 shares of the company’s stock after selling 1,175 shares during the quarter. Novartis makes up approximately 1.3% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Cohen Capital Management Inc.’s holdings in Novartis were worth $7,678,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Pinnacle Financial Partners Inc raised its holdings in Novartis by 4.3% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,823 shares of the company’s stock valued at $476,000 after acquiring an additional 198 shares during the period. Oxbow Advisors LLC raised its holdings in Novartis by 5.8% during the fourth quarter. Oxbow Advisors LLC now owns 26,882 shares of the company’s stock valued at $2,616,000 after acquiring an additional 1,480 shares during the period. Cromwell Holdings LLC raised its holdings in Novartis by 21.9% during the fourth quarter. Cromwell Holdings LLC now owns 3,918 shares of the company’s stock valued at $381,000 after acquiring an additional 705 shares during the period. O Brien Greene & Co. Inc raised its holdings in Novartis by 2.2% during the fourth quarter. O Brien Greene & Co. Inc now owns 5,698 shares of the company’s stock valued at $554,000 after acquiring an additional 124 shares during the period. Finally, Boston Financial Mangement LLC raised its holdings in Novartis by 12.8% during the fourth quarter. Boston Financial Mangement LLC now owns 9,072 shares of the company’s stock valued at $883,000 after acquiring an additional 1,027 shares during the period. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVS has been the topic of a number of recent analyst reports. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. UBS Group reissued 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. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, Barclays restated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Trading Up 2.0 %

Shares of Novartis stock opened at $109.42 on Friday. The firm has a market cap of $223.65 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.70 and a beta of 0.58. The business has a 50-day moving average price of $101.46 and a 200-day moving average price of $108.13. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last released 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%. Equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Company Profile

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.