Legacy Financial Advisors Inc. Sells 798 Shares of Novartis AG (NYSE:NVS)

Legacy Financial Advisors Inc. reduced its position in shares of Novartis AG (NYSE:NVS) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,756 shares of the company’s stock after selling 798 shares during the period. Legacy Financial Advisors Inc.’s holdings in Novartis were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Founders Financial Securities LLC raised its position in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after acquiring an additional 94 shares in the last quarter. NBC Securities Inc. increased its holdings in Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after purchasing an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Novartis by 5.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after buying an additional 98 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after buying an additional 99 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its position in shares of Novartis by 9.3% during the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NVS shares. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Jefferies Financial Group lowered 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 assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $120.70.

Novartis Trading Down 0.1 %

NYSE:NVS opened at $115.92 on Friday. The firm has a 50-day moving average price of $114.22 and a two-hundred day moving average price of $105.46. The firm has a market cap of $236.94 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.57. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93.

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

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.