Moloney Securities Asset Management LLC Buys 1,220 Shares of Novartis AG $NVS

Moloney Securities Asset Management LLC grew its stake in Novartis AG (NYSE:NVS) by 31.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,153 shares of the company’s stock after purchasing an additional 1,220 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Novartis were worth $624,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVS. Essex Savings Bank raised its stake in Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after acquiring an additional 85 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Novartis by 5.8% in the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after purchasing an additional 85 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Novartis by 4.4% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after purchasing an additional 87 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of Novartis by 0.4% in the second quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock valued at $2,978,000 after purchasing an additional 88 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its holdings in shares of Novartis by 1.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock valued at $938,000 after purchasing an additional 90 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NVS stock opened at $130.48 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The business has a 50-day moving average price of $127.56 and a 200 day moving average price of $119.37. The company has a market capitalization of $275.64 billion, a P/E ratio of 18.99, a PEG ratio of 1.84 and a beta of 0.64. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55.

Analyst Upgrades and Downgrades

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

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.