Park Place Capital Corp Reduces Position in Novartis AG (NYSE:NVS)

Park Place Capital Corp trimmed its position in Novartis AG (NYSE:NVS) by 52.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 794 shares of the company’s stock after selling 879 shares during the quarter. Park Place Capital Corp’s holdings in Novartis were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Private Ocean LLC purchased a new stake in Novartis in the first quarter worth $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Novartis in the 4th quarter worth about $26,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis during the 4th quarter valued at about $26,000. Clearstead Trust LLC boosted its position in Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares in the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of Novartis by 149.3% during the 1st quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock worth $34,000 after acquiring an additional 212 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group started coverage on Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective for the company. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. BMO Capital Markets lifted their price target on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price objective on shares of Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $118.13.

Novartis Stock Up 0.7 %

NVS stock traded up $0.77 during trading on Friday, hitting $112.87. 1,678,907 shares of the stock traded hands, compared to its average volume of 1,504,443. The stock has a market cap of $230.71 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.57. 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 $113.00. The firm’s 50 day moving average is $106.99 and its two-hundred day moving average is $102.43.

Novartis (NYSE:NVS) last posted its quarterly 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 firm had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 7.41 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.