Private Advisor Group LLC Grows Stake in Novartis AG (NYSE:NVS)

Private Advisor Group LLC increased its holdings in Novartis AG (NYSE:NVS) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,056 shares of the company’s stock after buying an additional 608 shares during the period. Private Advisor Group LLC’s holdings in Novartis were worth $4,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVS. Brookstone Capital Management grew its holdings in shares of Novartis by 1.3% during the first quarter. Brookstone Capital Management now owns 12,833 shares of the company’s stock worth $1,241,000 after purchasing an additional 162 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Novartis by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 111,453 shares of the company’s stock valued at $10,781,000 after purchasing an additional 5,491 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Novartis in the 1st quarter worth approximately $56,000. Independence Bank of Kentucky raised its position in shares of Novartis by 21.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,963 shares of the company’s stock valued at $190,000 after buying an additional 346 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Novartis by 3.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,993 shares of the company’s stock worth $386,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

NVS opened at $113.79 on Friday. 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 AG has a 1 year low of $92.19 and a 1 year high of $120.92. The stock’s 50 day simple moving average is $116.42 and its 200 day simple moving average is $108.55. The firm has a market cap of $232.59 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.66 and a beta of 0.57.

Analyst Ratings Changes

A number of research firms recently commented on NVS. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.70.

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.