Angeles Wealth Management LLC Has $351,000 Position in Novartis AG (NYSE:NVS)

Angeles Wealth Management LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,301 shares of the company’s stock after selling 195 shares during the quarter. Angeles Wealth Management LLC’s holdings in Novartis were worth $351,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Novartis during the fourth quarter worth approximately $26,000. Private Ocean LLC acquired a new stake in shares of Novartis during the first quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in Novartis in the fourth quarter valued at approximately $26,000. New Millennium Group LLC acquired a new stake in Novartis in the second quarter valued at approximately $28,000. Finally, Clearstead Trust LLC lifted its stake in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVS shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Barclays upgraded shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $130.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $120.70.

Novartis Stock Performance

Shares of NVS stock opened at $115.29 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The company has a market capitalization of $235.65 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The company’s 50 day moving average price is $113.25 and its two-hundred day moving average price is $104.81. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the business earned $1.83 earnings per share. On average, analysts expect that Novartis AG will post 7.5 earnings per share for the current fiscal year.

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.