Novartis AG (NYSE:NVS) Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its position in Novartis AG (NYSE:NVS) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,180 shares of the company’s stock after buying an additional 6,365 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Novartis were worth $8,072,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Founders Financial Securities LLC boosted its stake in shares of 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 in the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares during the period. NBC Securities Inc. boosted its stake in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after purchasing an additional 97 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the period. Finally, Portside Wealth Group LLC boosted its stake in Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS stock opened at $115.76 on Tuesday. The stock has a 50 day moving average of $116.39 and a two-hundred day moving average of $108.22. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92. The company has a market capitalization of $236.61 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.70 and a beta of 0.57.

Analysts Set New Price Targets

Several analysts recently weighed in on NVS shares. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Barclays upgraded Novartis to a “strong sell” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.70.

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.