Callan Family Office LLC Acquires Shares of 1,901 Novartis AG (NYSE:NVS)

Callan Family Office LLC bought a new position in Novartis AG (NYSE:NVS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,901 shares of the company’s stock, valued at approximately $219,000.

Several other large investors also recently added to or reduced their stakes in the business. Founders Financial Securities LLC grew its holdings in Novartis by 3.4% during 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 during the last quarter. NBC Securities Inc. grew its holdings in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after acquiring an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after acquiring an additional 98 shares during the last quarter. Portside Wealth Group LLC grew its holdings in 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 acquiring an additional 99 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in 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 acquiring an additional 100 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 0.1 %

Novartis stock opened at $113.76 on Wednesday. The company’s 50 day simple moving average is $115.49 and its 200 day simple moving average is $106.81. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92. The firm has a market capitalization of $232.53 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.71 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period last year, the company posted $1.83 EPS. As a group, sell-side analysts anticipate that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $120.70.

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.