Beverly Hills Private Wealth LLC Has $1.31 Million Holdings in Novartis AG (NYSE:NVS)

Beverly Hills Private Wealth LLC reduced its holdings in Novartis AG (NYSE:NVS) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,344 shares of the company’s stock after selling 1,306 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Novartis were worth $1,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Ocean LLC bought a new position in shares of Novartis in the 1st quarter valued at about $25,000. Frazier Financial Advisors LLC bought a new position in shares of Novartis in the fourth quarter valued at $26,000. Richardson Financial Services Inc. bought a new position in shares of Novartis in the fourth quarter valued at $26,000. Clearstead Trust LLC increased its holdings in Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares during the last quarter. Finally, New Millennium Group LLC bought a new stake in Novartis during the second quarter worth $28,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVS shares. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $130.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.70.

Novartis Trading Down 1.5 %

Shares of NYSE:NVS opened at $115.29 on Thursday. The stock has a market cap of $235.65 billion, a PE ratio of 15.56, a P/E/G ratio of 1.70 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The business has a 50 day moving average of $113.25 and a 200-day moving average of $104.81.

Novartis (NYSE:NVS) last issued its quarterly earnings data 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 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 period in the prior year, the firm posted $1.83 EPS. As a group, equities research analysts forecast that Novartis AG will post 7.5 earnings per share for the current year.

Novartis Company 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.