Waldron Private Wealth LLC Sells 124 Shares of Novartis AG (NYSE:NVS)

Waldron Private Wealth LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,273 shares of the company’s stock after selling 124 shares during the period. Waldron Private Wealth LLC’s holdings in Novartis were worth $261,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Founders Financial Securities LLC lifted its position in Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after acquiring an additional 94 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in shares of Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares during the period. NBC Securities Inc. grew its holdings in shares of Novartis by 0.9% during the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after buying an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after buying an additional 98 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.2 %

NVS opened at $114.06 on Thursday. The stock’s fifty day simple moving average is $116.44 and its 200 day simple moving average is $108.39. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92. The stock has a market cap of $233.14 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America lowered shares of 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 note on Wednesday, September 11th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $120.70.

About Novartis

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.