Anchor Investment Management LLC Sells 100 Shares of Novartis AG (NYSE:NVS)

Anchor Investment Management LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 1.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,601 shares of the company’s stock after selling 100 shares during the period. Anchor Investment Management LLC’s holdings in Novartis were worth $809,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. Private Ocean LLC bought a new position in shares of Novartis during the 1st quarter worth about $25,000. Richardson Financial Services Inc. bought a new position in shares of Novartis during the 4th quarter worth about $26,000. Clearstead Trust LLC lifted its holdings in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares during the period. New Millennium Group LLC bought a new position in Novartis during the 2nd quarter valued at about $28,000. Finally, Lynx Investment Advisory bought a new position in Novartis during the 2nd quarter valued at about $29,000. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 0.6 %

Shares of NYSE NVS opened at $113.77 on Friday. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92. The company has a market cap of $232.55 billion, a PE ratio of 15.35, a P/E/G ratio of 1.73 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $115.35 and a two-hundred day moving average of $106.41.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The company had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. As a group, equities analysts expect that Novartis AG will post 7.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $120.70.

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.