Abundance Wealth Counselors Buys 671 Shares of Novartis AG (NYSE:NVS)

Abundance Wealth Counselors grew its stake in shares of Novartis AG (NYSE:NVS) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,870 shares of the company’s stock after acquiring an additional 671 shares during the period. Novartis comprises approximately 0.6% of Abundance Wealth Counselors’ investment portfolio, making the stock its 29th biggest holding. Abundance Wealth Counselors’ holdings in Novartis were worth $1,370,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. boosted its holdings in Novartis by 0.9% during the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after buying an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 98 shares during the period. Evermay Wealth Management LLC increased its stake in shares of Novartis by 9.3% in the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after purchasing an additional 100 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Novartis by 1.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 7,043 shares of the company’s stock worth $681,000 after purchasing an additional 103 shares during the period. Finally, Davidson Trust Co. lifted its position in shares of Novartis by 1.4% during the 4th quarter. Davidson Trust Co. now owns 7,864 shares of the company’s stock valued at $794,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.2 %

Shares of NYSE NVS traded down $0.20 during midday trading on Thursday, reaching $113.33. 779,885 shares of the stock were exchanged, compared to its average volume of 1,449,864. Novartis AG has a twelve month low of $92.19 and a twelve month high of $113.92. The stock has a market capitalization of $231.65 billion, a P/E ratio of 15.29, a PEG ratio of 1.64 and a beta of 0.57. The company has a 50 day simple moving average of $108.63 and a 200 day simple moving average of $102.75. 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 posted its earnings results on Thursday, July 18th. The company reported $1.97 EPS 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 previous year, the business earned $1.83 earnings per share. As a group, equities analysts expect that Novartis AG will post 7.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVS. BMO Capital Markets boosted their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. Jefferies Financial Group upped their target price on shares of Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on shares of Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $118.13.

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.