Boston Mountain Money Management Inc. Trims Stock Position in Novartis AG (NYSE:NVS)

Boston Mountain Money Management Inc. reduced its stake in Novartis AG (NYSE:NVS) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,944 shares of the company’s stock after selling 312 shares during the quarter. Boston Mountain Money Management Inc.’s holdings in Novartis were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVS. International Assets Investment Management LLC raised its position in Novartis by 6,599.3% during the 4th quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after buying an additional 147,165 shares during the last quarter. SVB Wealth LLC lifted its position in Novartis by 3.3% in the fourth quarter. SVB Wealth LLC now owns 16,105 shares of the company’s stock valued at $1,626,000 after purchasing an additional 516 shares during the period. Tyche Wealth Partners LLC purchased a new stake in Novartis in the 4th quarter valued at approximately $216,000. HF Advisory Group LLC increased its position in Novartis by 40.9% during the 4th quarter. HF Advisory Group LLC now owns 4,710 shares of the company’s stock worth $475,000 after purchasing an additional 1,368 shares during the period. Finally, Davidson Trust Co. raised its stake in shares of Novartis by 1.4% during the 4th quarter. Davidson Trust Co. now owns 7,864 shares of the company’s stock worth $794,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

NVS traded up $1.22 during midday trading on Monday, reaching $115.92. 857,879 shares of the company’s stock were exchanged, compared to its average volume of 1,443,671. The business’s 50-day moving average price is $108.82 and its 200 day moving average price is $102.76. The stock has a market capitalization of $236.94 billion, a PE ratio of 15.64, a P/E/G ratio of 1.67 and a beta of 0.57. Novartis AG has a 1-year low of $92.19 and a 1-year high of $116.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter in the prior year, the company earned $1.83 EPS. As a group, equities analysts anticipate that Novartis AG will post 7.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. BMO Capital Markets upped their target price on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.13.

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.