Bleakley Financial Group LLC Has $6.31 Million Stock Holdings in Novartis AG $NVS

Bleakley Financial Group LLC trimmed its position in shares of Novartis AG (NYSE:NVS) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,167 shares of the company’s stock after selling 756 shares during the period. Bleakley Financial Group LLC’s holdings in Novartis were worth $6,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Principle Wealth Partners LLC raised its stake in shares of Novartis by 14.1% during the 2nd quarter. Principle Wealth Partners LLC now owns 4,847 shares of the company’s stock worth $587,000 after purchasing an additional 600 shares in the last quarter. RNC Capital Management LLC grew its stake in shares of Novartis by 12.2% in the 2nd quarter. RNC Capital Management LLC now owns 4,126 shares of the company’s stock valued at $499,000 after buying an additional 450 shares in the last quarter. Forum Financial Management LP increased its holdings in Novartis by 0.4% in the second quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after buying an additional 88 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in Novartis by 20.4% during the second quarter. Cookson Peirce & Co. Inc. now owns 267,535 shares of the company’s stock valued at $32,374,000 after acquiring an additional 45,408 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Novartis by 8.6% in the second quarter. Cullen Frost Bankers Inc. now owns 10,494 shares of the company’s stock valued at $1,270,000 after acquiring an additional 827 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the topic of several analyst reports. The Goldman Sachs Group restated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target for the company in a research note on Friday, August 8th. Finally, Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Trading Up 0.1%

Shares of NVS stock opened at $131.60 on Friday. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The firm’s fifty day simple moving average is $127.43 and its 200 day simple moving average is $119.17. The firm has a market capitalization of $277.99 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

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.