Angeles Wealth Management LLC Acquires 567 Shares of Novartis AG $NVS

Angeles Wealth Management LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 26.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,685 shares of the company’s stock after acquiring an additional 567 shares during the quarter. Angeles Wealth Management LLC’s holdings in Novartis were worth $325,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NVS. Goldman Sachs Group Inc. increased its position in Novartis by 60.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,660,485 shares of the company’s stock worth $408,071,000 after acquiring an additional 1,377,252 shares during the period. New Vernon Capital Holdings II LLC increased its holdings in Novartis by 12,664.1% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 1,383,244 shares of the company’s stock valued at $154,204,000 after buying an additional 1,372,407 shares during the period. Dimensional Fund Advisors LP increased its holdings in Novartis by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,606,724 shares of the company’s stock valued at $959,535,000 after buying an additional 422,869 shares during the period. Cookson Peirce & Co. Inc. bought a new position in Novartis in the 1st quarter valued at about $24,763,000. Finally, Janney Montgomery Scott LLC increased its holdings in Novartis by 38.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 310,389 shares of the company’s stock valued at $37,560,000 after buying an additional 86,351 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Trading Up 0.5%

Shares of Novartis stock opened at $131.46 on Friday. The firm has a market capitalization of $277.69 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $126.54 and its 200 day moving average is $118.52. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same period in the previous year, the firm posted $1.97 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on NVS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 target price (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and an average target price of $120.33.

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.