Mraz Amerine & Associates Inc. Sells 1,706 Shares of Novartis AG (NYSE:NVS)

Mraz Amerine & Associates Inc. cut its stake in Novartis AG (NYSE:NVS) by 27.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,592 shares of the company’s stock after selling 1,706 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Novartis were worth $528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NVS. Raymond James & Associates lifted its position in Novartis by 1.3% during the second quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock worth $57,127,000 after purchasing an additional 6,767 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Novartis during the second quarter worth $15,044,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Novartis by 6.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock valued at $17,485,000 after acquiring an additional 11,080 shares during the last quarter. Integral Health Asset Management LLC boosted its holdings in shares of Novartis by 33.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock valued at $31,938,000 after acquiring an additional 75,000 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in Novartis during the 1st quarter worth $2,968,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Trading Down 0.8 %

NYSE NVS opened at $113.16 on Friday. Novartis AG has a one year low of $92.19 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The business has a 50 day simple moving average of $116.44 and a 200 day simple moving average of $108.39. The stock has a market capitalization of $231.30 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.66 and a beta of 0.57.

Analyst Ratings Changes

NVS has been the topic of several research reports. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.70.

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.