Cobblestone Capital Advisors LLC NY Makes New $210,000 Investment in Novartis AG (NYSE:NVS)

Cobblestone Capital Advisors LLC NY bought a new position in shares of Novartis AG (NYSE:NVS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,975 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also modified their holdings of NVS. Private Ocean LLC purchased a new stake in Novartis during the 1st quarter worth approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Novartis during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in Novartis in the 4th quarter valued at $26,000. Clearstead Trust LLC lifted its holdings in Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in Novartis during the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

NVS has been the topic of several research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $118.38.

Novartis Stock Up 0.1 %

NVS stock opened at $116.65 on Friday. Novartis AG has a one year low of $92.19 and a one year high of $120.92. The firm has a market cap of $238.43 billion, a PE ratio of 15.74, a PEG ratio of 1.74 and a beta of 0.57. The firm’s 50 day moving average price is $112.66 and its 200-day moving average price is $104.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $1.83 earnings per share. On average, equities research analysts anticipate that Novartis AG will post 7.5 EPS 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.