Novartis AG $NVS Shares Bought by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 42,007 shares of the company’s stock after purchasing an additional 901 shares during the period. Novartis makes up approximately 0.9% of Greenup Street Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Greenup Street Wealth Management LLC’s holdings in Novartis were worth $5,083,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Essex Savings Bank grew its position in Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. raised its holdings in Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock worth $186,000 after purchasing an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in Novartis by 1.2% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after purchasing an additional 90 shares during the period. Finally, Gallacher Capital Management LLC raised its holdings in Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock worth $650,000 after purchasing an additional 92 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Trading Up 0.3%

Shares of Novartis stock opened at $131.78 on Tuesday. 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 firm’s 50-day moving average price is $126.80 and its 200 day moving average price is $118.80. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The firm has a market capitalization of $278.38 billion, a PE ratio of 19.18, a P/E/G ratio of 1.82 and a beta of 0.64.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 21st. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target for the company in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus price target of $120.33.

About Novartis

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.