SOA Wealth Advisors LLC. Buys Shares of 334 Novartis AG $NVS

SOA Wealth Advisors LLC. bought a new position in Novartis AG (NYSE:NVS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 334 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors have also modified their holdings of the company. First Pacific Financial purchased a new position in shares of Novartis in the 2nd quarter worth approximately $3,153,000. Bartlett & CO. Wealth Management LLC grew its position in shares of Novartis by 0.7% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 85,823 shares of the company’s stock worth $10,385,000 after buying an additional 636 shares during the last quarter. PFG Investments LLC grew its position in shares of Novartis by 3.8% in the 2nd quarter. PFG Investments LLC now owns 3,050 shares of the company’s stock worth $369,000 after buying an additional 112 shares during the last quarter. Truist Financial Corp grew its position in shares of Novartis by 3.7% in the 2nd quarter. Truist Financial Corp now owns 798,467 shares of the company’s stock worth $96,622,000 after buying an additional 28,726 shares during the last quarter. Finally, One Wealth Advisors LLC grew its position in shares of Novartis by 9.2% in the 2nd quarter. One Wealth Advisors LLC now owns 2,376 shares of the company’s stock worth $288,000 after buying an additional 200 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Saturday, September 27th. The Goldman Sachs Group restated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen lowered Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $120.33.

Novartis Trading Up 1.1%

Novartis stock opened at $132.41 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.37. The company has a market capitalization of $279.70 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64. The stock has a 50-day moving average price of $123.57 and a 200 day moving average price of $117.18.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter in the previous year, the company posted $1.97 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Novartis AG will post 8.45 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.