Angeles Wealth Management LLC Has $361,000 Stock Position in Novartis AG (NYSE:NVS)

Angeles Wealth Management LLC lessened its position in shares of Novartis AG (NYSE:NVS) by 4.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,139 shares of the company’s stock after selling 162 shares during the quarter. Angeles Wealth Management LLC’s holdings in Novartis were worth $361,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Novartis during the second quarter worth $28,000. Clearstead Trust LLC lifted its stake in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares during the period. Lynx Investment Advisory bought a new stake in shares of Novartis during the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in Novartis during the second quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. bought a new stake in Novartis in the second quarter worth approximately $30,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.9 %

NVS opened at $109.35 on Monday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm has a market capitalization of $223.51 billion, a PE ratio of 12.70, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.72. The company’s 50-day moving average is $115.76 and its 200 day moving average is $109.34.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The firm had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the business posted $1.74 earnings per share. As a group, research analysts predict that Novartis AG will post 7.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on NVS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. BMO Capital Markets raised their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Novartis has an average rating of “Hold” and an average price target of $121.50.

Novartis Company 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.