Angeles Investment Advisors LLC Sells 1,188 Shares of Novartis AG (NYSE:NVS)

Angeles Investment Advisors LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 32.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,459 shares of the company’s stock after selling 1,188 shares during the period. Angeles Investment Advisors LLC’s holdings in Novartis were worth $262,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Founders Financial Securities LLC raised its holdings in Novartis by 3.4% during the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after buying an additional 94 shares in the last quarter. NBC Securities Inc. grew its position in shares of Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after purchasing an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Novartis by 5.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Novartis by 3.4% in the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its position in shares of Novartis by 9.3% in the first quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after purchasing an additional 100 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Finally, Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.70.

Novartis Stock Up 1.1 %

NVS stock opened at $116.95 on Tuesday. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92. The company has a market cap of $239.05 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. The business’s 50-day simple moving average is $113.76 and its 200 day simple moving average is $105.11. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter last year, the company earned $1.83 earnings per share. On average, research analysts anticipate that Novartis AG will post 7.5 earnings per share for the current year.

Novartis 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.