Puzo Michael J Trims Position in Novartis AG $NVS

Puzo Michael J trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,035 shares of the company’s stock after selling 400 shares during the quarter. Puzo Michael J’s holdings in Novartis were worth $246,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Spectrum Asset Management Inc. NB CA purchased a new position in shares of Novartis in the second quarter worth $2,984,000. Venturi Wealth Management LLC grew its holdings in shares of Novartis by 9.1% in the second quarter. Venturi Wealth Management LLC now owns 12,957 shares of the company’s stock worth $1,568,000 after purchasing an additional 1,081 shares during the last quarter. Godsey & Gibb Inc. lifted its stake in Novartis by 0.4% in the second quarter. Godsey & Gibb Inc. now owns 196,287 shares of the company’s stock worth $23,753,000 after acquiring an additional 830 shares during the period. Mraz Amerine & Associates Inc. lifted its stake in Novartis by 37.2% in the second quarter. Mraz Amerine & Associates Inc. now owns 6,298 shares of the company’s stock worth $762,000 after acquiring an additional 1,706 shares during the period. Finally, Heck Capital Advisors LLC lifted its stake in Novartis by 7.9% in the second quarter. Heck Capital Advisors LLC now owns 3,350 shares of the company’s stock worth $405,000 after acquiring an additional 244 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NYSE NVS opened at $131.57 on Wednesday. The company has a market cap of $277.93 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The stock has a 50-day moving average of $124.18 and a two-hundred day moving average of $117.48. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55.

Novartis (NYSE:NVS) last announced its quarterly earnings data 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Saturday, September 27th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Wall Street Zen lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed 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 given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $120.33.

About Novartis

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.