Novartis AG $NVS Shares Sold by HF Advisory Group LLC

HF Advisory Group LLC decreased its holdings in Novartis AG (NYSE:NVS) by 28.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,551 shares of the company’s stock after selling 3,463 shares during the period. HF Advisory Group LLC’s holdings in Novartis were worth $1,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NVS. Everpar Advisors LLC grew its holdings in Novartis by 9.6% in the second quarter. Everpar Advisors LLC now owns 2,326 shares of the company’s stock valued at $365,000 after purchasing an additional 203 shares during the period. Valeo Financial Advisors LLC increased its position in Novartis by 16.3% during the second quarter. Valeo Financial Advisors LLC now owns 9,310 shares of the company’s stock worth $1,459,000 after purchasing an additional 1,308 shares during the last quarter. Gradient Investments LLC raised its stake in Novartis by 6.1% during the second quarter. Gradient Investments LLC now owns 37,294 shares of the company’s stock worth $5,845,000 after purchasing an additional 2,141 shares during the period. Trust Point Inc. raised its stake in Novartis by 3.8% during the second quarter. Trust Point Inc. now owns 6,344 shares of the company’s stock worth $994,000 after purchasing an additional 232 shares during the period. Finally, Cooper Financial Group boosted its holdings in shares of Novartis by 63.9% in the 2nd quarter. Cooper Financial Group now owns 2,253 shares of the company’s stock valued at $353,000 after purchasing an additional 878 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 1.4%

NYSE:NVS opened at $156.38 on Friday. The business’s 50-day moving average is $152.99 and its two-hundred day moving average is $153.11. The firm has a market capitalization of $298.40 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. Novartis AG has a 12 month low of $115.75 and a 12 month high of $170.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The company had revenue of $14.95 billion during the quarter. Research analysts predict that Novartis AG will post 8.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $141.20.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.