Novartis AG $NVS Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC decreased its position in Novartis AG (NYSE:NVS) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,880 shares of the company’s stock after selling 101 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Novartis were worth $833,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Essex Savings Bank grew its holdings in Novartis by 1.9% during the second 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 Novartis by 5.8% during the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock worth $186,000 after acquiring an additional 85 shares during the period. Gallacher Capital Management LLC grew its holdings in Novartis by 1.7% during the second quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock worth $650,000 after acquiring an additional 92 shares during the period. Ascent Group LLC grew its holdings in Novartis by 0.7% during the second quarter. Ascent Group LLC now owns 14,121 shares of the company’s stock worth $1,709,000 after acquiring an additional 97 shares during the period. Finally, Sage Rhino Capital LLC grew its holdings in Novartis by 1.2% during the second quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company’s stock worth $983,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. 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 report on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Wednesday. Wall Street Zen lowered Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Trading Down 1.0%

Shares of NYSE NVS opened at $131.04 on Friday. Novartis AG has a one year low of $96.06 and a one year high of $133.55. The firm has a market capitalization of $276.81 billion, a PE ratio of 19.07, a PEG ratio of 1.83 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. The business has a 50-day moving average price of $124.85 and a two-hundred day moving average price of $117.72.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same period last year, the company posted $1.97 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal 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.