Leo Wealth LLC Has $1.98 Million Stock Holdings in Novartis AG $NVS

Key Points

• Leo Wealth LLC increased its stake in Novartis AG by 15.6%, owning 16,380 shares valued at $1.98 million after purchasing additional shares in the second quarter.
• Novartis reported earnings of $2.42 per share for the last quarter, exceeding the consensus estimate and reflecting a 12.3% increase in revenue year-over-year.
• Multiple analysts have recently rated Novartis stock, with Morgan Stanley upgrading it to "equal weight" and various ratings reflecting a general consensus of "Hold" with a target price of $120.33.

Leo Wealth LLC lifted its position in shares of Novartis AG (NYSE:NVS - Free Report) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,380 shares of the company's stock after purchasing an additional 2,210 shares during the quarter. Leo Wealth LLC's holdings in Novartis were worth $1,982,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVS. Essex Savings Bank lifted 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 acquiring an additional 85 shares during the period. Physician Wealth Advisors Inc. lifted its stake in Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock valued at $186,000 after purchasing an additional 85 shares during the last quarter. Gallacher Capital Management LLC lifted its stake in Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock valued at $650,000 after purchasing an additional 92 shares during the last quarter. Ascent Group LLC lifted its stake in Novartis by 0.7% in the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company's stock valued at $1,709,000 after purchasing an additional 97 shares during the last quarter. Finally, Sage Rhino Capital LLC lifted its stake in Novartis by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company's stock valued at $983,000 after purchasing an additional 99 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Trading Up 0.6%

Shares of NYSE NVS opened at $132.36 on Thursday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $133.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm has a 50 day moving average price of $124.50 and a two-hundred day moving average price of $117.59. The stock has a market cap of $279.60 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. During the same period in the prior year, the company posted $1.97 earnings per share. Novartis's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a research note on Wednesday. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $120.33.

Novartis 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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