HBK Sorce Advisory LLC Increases Holdings in Novartis AG (NYSE:NVS)

HBK Sorce Advisory LLC increased its stake in Novartis AG (NYSE:NVS) by 6.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,521 shares of the company’s stock after buying an additional 144 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Novartis were worth $268,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NVS. Frazier Financial Advisors LLC bought a new position in shares of Novartis during the 4th quarter valued at approximately $26,000. Private Ocean LLC purchased a new position in Novartis in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new position in Novartis during the fourth quarter valued at $26,000. New Millennium Group LLC purchased a new stake in Novartis in the second quarter worth $28,000. Finally, Clearstead Trust LLC raised its stake in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after buying an additional 114 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS opened at $115.66 on Monday. The company’s 50 day simple moving average is $113.58 and its two-hundred day simple moving average is $105.00. 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 has a market capitalization of $236.41 billion, a PE ratio of 15.61, a P/E/G ratio of 1.73 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. The company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter last year, the company earned $1.83 earnings per share. Analysts predict that Novartis AG will post 7.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

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