Private Wealth Partners LLC Boosts Holdings in Novartis AG $NVS

Private Wealth Partners LLC increased its holdings in Novartis AG (NYSE:NVS) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,312 shares of the company’s stock after purchasing an additional 500 shares during the period. Private Wealth Partners LLC’s holdings in Novartis were worth $280,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Essex Savings Bank lifted its holdings in Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after purchasing an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock worth $186,000 after purchasing an additional 85 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after purchasing an additional 87 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Novartis by 0.4% during the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after acquiring an additional 88 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in shares of Novartis by 1.2% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after acquiring an additional 90 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVS has been the topic of several recent research reports. HC Wainwright cut Novartis to a “neutral” rating in a report on Monday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $118.00 price objective (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Stock Performance

NYSE:NVS opened at $129.12 on Tuesday. The stock’s fifty day moving average is $127.66 and its 200 day moving average is $119.78. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The firm has a market capitalization of $272.76 billion, a PE ratio of 18.79, a PEG ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82.

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.