Arkadios Wealth Advisors Sells 886 Shares of Novartis AG $NVS

by · The Cerbat Gem

Arkadios Wealth Advisors cut its holdings in shares of Novartis AG (NYSE:NVS – Free Report) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,629 shares of the company’s stock after selling 886 shares during the quarter. Arkadios Wealth Advisors’ holdings in Novartis were worth $3,101,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GFG Capital LLC purchased a new position in shares of Novartis during the second quarter valued at about $26,000. WPG Advisers LLC purchased a new position in shares of Novartis during the first quarter valued at about $25,000. Barrett & Company Inc. purchased a new position in shares of Novartis during the second quarter valued at about $31,000. MCF Advisors LLC grew its position in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares in the last quarter. Finally, Highline Wealth Partners LLC grew its position in shares of Novartis by 82.4% during the second quarter. Highline Wealth Partners LLC now owns 290 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.4%

NVS opened at $121.73 on Thursday. The firm has a market cap of $257.15 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.73 and a beta of 0.64. Novartis AG has a 12 month low of $96.06 and a 12 month high of $133.55. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $127.52 and a 200 day moving average of $120.01.

Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). The company had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 42.01% and a net margin of 26.49%.The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.06 EPS. As a group, research analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVS. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research report on Monday. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target for the company in a research report on Friday, August 8th. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.33.

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Novartis Profile

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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.

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