Graypoint LLC Has $400,000 Stock Position in Novartis AG (NYSE:NVS)

Graypoint LLC cut its holdings in Novartis AG (NYSE:NVS) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,759 shares of the company’s stock after selling 1,909 shares during the quarter. Graypoint LLC’s holdings in Novartis were worth $400,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NVS. Frazier Financial Advisors LLC bought a new stake in Novartis during the fourth quarter worth $26,000. Private Ocean LLC purchased a new stake in Novartis in the 1st quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in Novartis in the 4th quarter worth about $26,000. New Millennium Group LLC purchased a new stake in Novartis in the 2nd quarter worth about $28,000. Finally, Clearstead Trust LLC boosted its stake in Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE:NVS opened at $120.89 on Monday. The firm has a market capitalization of $247.10 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.77 and a beta of 0.57. Novartis AG has a 1 year low of $92.19 and a 1 year high of $120.92. The business has a 50 day simple moving average of $111.51 and a 200-day simple moving average of $103.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. The company had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same period last year, the business posted $1.83 EPS. Equities analysts forecast that Novartis AG will post 7.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group raised their target price on Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group started coverage on Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $118.13.

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.