Venture Visionary Partners LLC Sells 596 Shares of Novartis AG (NYSE:NVS)

Venture Visionary Partners LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 5.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,910 shares of the company’s stock after selling 596 shares during the quarter. Venture Visionary Partners LLC’s holdings in Novartis were worth $1,255,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC bought a new position in Novartis during the 1st quarter worth about $25,000. New Millennium Group LLC purchased a new position in Novartis during the second quarter valued at approximately $28,000. Clearstead Trust LLC raised its stake in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Novartis during the second quarter worth $29,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Novartis during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.2 %

Shares of Novartis stock opened at $115.76 on Tuesday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The firm’s 50 day simple moving average is $116.39 and its two-hundred day simple moving average is $108.22. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $236.61 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.70 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVS. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $120.70.

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.