Resonant Capital Advisors LLC Acquires 322 Shares of Novartis AG $NVS

Resonant Capital Advisors LLC increased its holdings in Novartis AG (NYSE:NVS) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,911 shares of the company’s stock after purchasing an additional 322 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Novartis were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NVS. WPG Advisers LLC bought a new stake in shares of Novartis in the 1st quarter valued at about $25,000. Tsfg LLC boosted its holdings in Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after acquiring an additional 183 shares during the last quarter. GFG Capital LLC bought a new stake in Novartis in the second quarter valued at approximately $26,000. Barrett & Company Inc. bought a new stake in Novartis in the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC boosted its stake in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

NVS stock opened at $130.48 on Monday. The company’s 50-day moving average is $127.56 and its 200-day moving average is $119.60. The stock has a market capitalization of $275.64 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.82 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. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVS. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently 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.