Boston Mountain Money Management Inc. Buys 254 Shares of Novartis AG (NYSE:NVS)

Boston Mountain Money Management Inc. boosted its holdings in Novartis AG (NYSE:NVS) by 13.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,198 shares of the company’s stock after buying an additional 254 shares during the period. Boston Mountain Money Management Inc.’s holdings in Novartis were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Founders Financial Securities LLC grew its position in shares of Novartis by 3.4% during the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after purchasing an additional 94 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in shares of Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares in the last quarter. NBC Securities Inc. grew 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 purchasing an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Novartis by 5.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares in the last quarter. Finally, Portside Wealth Group LLC grew its position in shares of Novartis by 3.4% during the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NVS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. The Goldman Sachs Group reiterated 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. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Barclays upgraded Novartis to a “strong sell” rating in a research report on Monday, June 24th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.70.

Novartis Trading Down 0.1 %

NYSE NVS traded down $0.08 during trading on Monday, hitting $116.14. The stock had a trading volume of 111,799 shares, compared to its average volume of 1,353,195. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock has a market capitalization of $237.39 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.71 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $120.92. The stock has a 50 day simple moving average of $115.73 and a 200 day simple moving average of $107.35.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Sell-side analysts predict that Novartis AG will post 7.52 earnings per share 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.