IFG Advisory LLC Invests $246,000 in Novartis AG (NYSE:NVS)

IFG Advisory LLC acquired a new stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,310 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. NBC Securities Inc. increased its position in shares of Novartis by 0.9% during the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after buying an additional 97 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after purchasing an additional 98 shares in the last quarter. 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 worth $319,000 after purchasing an additional 99 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in Novartis by 9.3% in the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after purchasing an additional 100 shares during the period. Finally, Essex LLC grew its position in shares of Novartis by 4.3% during the 2nd quarter. Essex LLC now owns 2,450 shares of the company’s stock valued at $261,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.4 %

NYSE:NVS opened at $120.89 on Tuesday. The firm has a market capitalization of $247.10 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.77 and a beta of 0.57. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $111.79 and a 200 day moving average of $104.08.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same period in the prior year, the business posted $1.83 earnings per share. On average, research analysts predict that Novartis AG will post 7.48 earnings per share for the current year.

Analyst Ratings Changes

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