Mutual Advisors LLC Trims Stock Holdings in Novartis AG $NVS

Key Points

• Mutual Advisors LLC reduced its stake in Novartis AG by 56.5%, owning 3,874 shares after selling 5,029 shares in the second quarter, valuing their holdings at $456,000.
• Several hedge funds increased their positions in Novartis, with notable increases of 366.0% and 66.0% by different firms during the same quarter.
• Analysts have varied opinions on Novartis, with Morgan Stanley upgrading the stock to an "equal weight" rating and setting a target price of $123.00.

Mutual Advisors LLC trimmed its holdings in Novartis AG (NYSE:NVS - Free Report) by 56.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,874 shares of the company's stock after selling 5,029 shares during the quarter. Mutual Advisors LLC's holdings in Novartis were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVS. WPG Advisers LLC bought a new stake in Novartis during the 1st quarter valued at $25,000. Tsfg LLC boosted its position in Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after acquiring an additional 183 shares in the last quarter. GFG Capital LLC bought a new stake in Novartis during the 2nd quarter valued at $26,000. Barrett & Company Inc. bought a new stake in Novartis during the 2nd quarter valued at $31,000. Finally, MCF Advisors LLC boosted its position in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Stock Up 0.3%

Novartis stock opened at $131.78 on Tuesday. The business's 50-day simple moving average is $126.80 and its two-hundred day simple moving average is $118.80. 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 company has a market cap of $278.38 billion, a PE ratio of 19.18, a PEG ratio of 1.82 and a beta of 0.64. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVS. Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. 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. The Goldman Sachs Group reiterated a "sell" rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Wall Street Zen upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average 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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