Novartis AG $NVS Stake Trimmed by Garland Capital Management Inc.

Garland Capital Management Inc. lowered its position in shares of Novartis AG (NYSE:NVS) by 70.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,500 shares of the company’s stock after selling 27,005 shares during the quarter. Novartis accounts for about 4.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Garland Capital Management Inc.’s holdings in Novartis were worth $1,392,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NVS. GFG Capital LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $26,000. WPG Advisers LLC bought a new stake in shares of Novartis during the first quarter valued at approximately $25,000. Tsfg LLC raised its position in shares of Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after buying an additional 183 shares during the last quarter. Barrett & Company Inc. bought a new stake in shares of Novartis during the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC raised its position in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.9%

NVS stock opened at $130.48 on Monday. The firm has a fifty day moving average price of $127.56 and a 200 day moving average price of $119.60. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm has a market cap of $275.64 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research 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. Finally, Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $120.33.

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.