Novartis AG $NVS Position Trimmed by Liberty Wealth Management LLC

Liberty Wealth Management LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,849 shares of the company’s stock after selling 200 shares during the quarter. Liberty Wealth Management LLC’s holdings in Novartis were worth $234,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Essex Savings Bank boosted its position in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after purchasing an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Novartis by 4.4% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after buying an additional 87 shares during the period. Forum Financial Management LP boosted its holdings in shares of Novartis by 0.4% in the second quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after buying an additional 88 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its holdings in shares of Novartis by 1.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after buying an additional 90 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 1.0%

NVS opened at $129.12 on Tuesday. The business has a 50 day moving average price of $127.66 and a 200 day moving average price of $119.78. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm has a market cap of $272.76 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a report on Monday. HC Wainwright lowered Novartis to a “neutral” rating in a report on Monday. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 target price (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $120.33.

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.