Mount Yale Investment Advisors LLC Reduces Stake in Novartis AG (NYSE:NVS)

Mount Yale Investment Advisors LLC cut its position in shares of Novartis AG (NYSE:NVS) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,115 shares of the company’s stock after selling 1,224 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Novartis were worth $1,822,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC grew its position in shares of Novartis by 12.3% in the fourth quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock valued at $253,000 after purchasing an additional 275 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Novartis by 1,345.3% in the fourth quarter. BNP Paribas Financial Markets now owns 8,036 shares of the company’s stock worth $811,000 after acquiring an additional 7,480 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of Novartis by 30.6% in the fourth quarter. SageView Advisory Group LLC now owns 3,067 shares of the company’s stock valued at $331,000 after acquiring an additional 718 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Novartis by 1,380.6% during the fourth quarter. Johnson Financial Group Inc. now owns 459 shares of the company’s stock valued at $46,000 after acquiring an additional 428 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA increased its position in Novartis by 79.4% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 7,728 shares of the company’s stock worth $780,000 after purchasing an additional 3,420 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Down 0.0 %

Shares of NYSE NVS opened at $115.94 on Monday. The stock has a market capitalization of $236.98 billion, a PE ratio of 15.65, a P/E/G ratio of 1.75 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $114.22 and a 200-day moving average of $105.50. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92.

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

Analysts Set New Price Targets

A number of research firms have issued reports on NVS. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report 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 cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.