Angeles Investment Advisors LLC Sells 1,188 Shares of Novartis AG (NYSE:NVS)

Angeles Investment Advisors LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 32.6% in the second quarter, Holdings Channel reports. The firm owned 2,459 shares of the company’s stock after selling 1,188 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Novartis were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVS. Private Ocean LLC acquired a new position in shares of Novartis in the 1st quarter worth approximately $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis in the 4th quarter worth approximately $26,000. Clearstead Trust LLC boosted its holdings in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in shares of Novartis in the 2nd quarter worth approximately $28,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NVS stock opened at $116.95 on Tuesday. The business’s fifty day moving average is $113.76 and its 200-day moving average is $105.11. 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 company has a market cap of $239.05 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. Novartis AG has a twelve month low of $92.19 and a twelve month 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 for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The company had revenue of $12.87 billion for 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 prior year, the business posted $1.83 EPS. Equities research analysts forecast that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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