D.A. Davidson & CO. Lowers Holdings in Novartis AG $NVS

Key Points

• D.A. Davidson & CO. reduced its holdings in Novartis AG by 17.2% in the second quarter, now owning 330,621 shares valued at approximately $40 million.
• The stock currently has a consensus rating of "Hold" with an average target price of $120.33 from various analysts.
• Recent performance shows Novartis stock opened at $131.29 and has a market capitalization of $277.34 billion.

D.A. Davidson & CO. decreased its holdings in Novartis AG (NYSE:NVS - Free Report) by 17.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,621 shares of the company's stock after selling 68,710 shares during the quarter. D.A. Davidson & CO.'s holdings in Novartis were worth $40,009,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Essex Savings Bank grew its holdings in shares of Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company's stock worth $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock worth $186,000 after purchasing an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Novartis by 4.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company's stock worth $250,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in shares of Novartis by 1.2% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company's stock worth $938,000 after purchasing an additional 90 shares during the period. Finally, Gallacher Capital Management LLC grew its holdings in shares of Novartis by 1.7% during the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock worth $650,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 13.12% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVS shares. The Goldman Sachs Group reiterated a "sell" rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $120.33.

Novartis Stock Performance

Novartis stock opened at $131.29 on Wednesday. The stock's 50 day moving average price is $127.04 and its 200 day moving average price is $118.89. The firm has a market capitalization of $277.34 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a one year low of $96.06 and a one year high of $133.55.

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.

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