Prime Capital Investment Advisors LLC Has $2.17 Million Stock Position in Novartis AG $NVS

Prime Capital Investment Advisors LLC lowered its position in shares of Novartis AG (NYSE:NVSFree Report) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,897 shares of the company’s stock after selling 1,662 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Novartis were worth $2,166,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Essex Savings Bank increased its position in 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 acquiring an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. increased its position in 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 acquiring an additional 85 shares in the last quarter. Gallacher Capital Management LLC increased its position in Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock valued at $650,000 after acquiring an additional 92 shares in the last quarter. Ascent Group LLC increased its position in Novartis by 0.7% in the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company’s stock valued at $1,709,000 after acquiring an additional 97 shares in the last quarter. Finally, Sage Rhino Capital LLC increased its position in Novartis by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company’s stock valued at $983,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on NVS

Novartis Stock Down 0.5%

Shares of NYSE NVS opened at $131.57 on Wednesday. The firm has a market capitalization of $277.93 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The firm’s 50-day moving average is $124.18 and its 200-day moving average is $117.48.

Novartis (NYSE:NVSGet Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same quarter last year, the firm earned $1.97 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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