Avidian Wealth Enterprises LLC Purchases 90 Shares of Novartis AG $NVS

Avidian Wealth Enterprises LLC increased its position in shares of Novartis AG (NYSE:NVS) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,749 shares of the company’s stock after purchasing an additional 90 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Novartis were worth $938,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of Novartis by 52.6% in the 2nd quarter. Bogart Wealth LLC now owns 598 shares of the company’s stock worth $72,000 after buying an additional 206 shares during the last quarter. Schnieders Capital Management LLC bought a new stake in Novartis during the second quarter worth $202,000. FLC Capital Advisors boosted its position in Novartis by 27.1% in the second quarter. FLC Capital Advisors now owns 3,286 shares of the company’s stock worth $398,000 after purchasing an additional 700 shares during the last quarter. Altus Wealth Group LLC grew its stake in Novartis by 13.1% in the 2nd quarter. Altus Wealth Group LLC now owns 5,022 shares of the company’s stock valued at $608,000 after purchasing an additional 583 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of Novartis by 38.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 2,568 shares of the company’s stock valued at $311,000 after purchasing an additional 716 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.4%

Shares of NVS stock opened at $131.29 on Wednesday. The stock has a market capitalization of $277.34 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.84 and a beta of 0.64. The company’s fifty day simple moving average is $127.04 and its two-hundred day simple moving average is $118.89. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 price target (down 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 research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a research report on Friday, August 8th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $120.33.

About Novartis

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.