6,136 Shares in Novartis AG (NYSE:NVS) Purchased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. purchased a new stake in shares of Novartis AG (NYSE:NVS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,136 shares of the company's stock, valued at approximately $663,000.

Other large investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Novartis in the second quarter valued at about $7,908,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Novartis by 33.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 229,800 shares of the company's stock worth $24,465,000 after acquiring an additional 57,000 shares during the last quarter. Delphi Management Inc. MA boosted its position in shares of Novartis by 2.4% during the 2nd quarter. Delphi Management Inc. MA now owns 16,882 shares of the company's stock worth $1,797,000 after purchasing an additional 403 shares during the period. Cetera Investment Advisers increased its holdings in Novartis by 2.9% in the 2nd quarter. Cetera Investment Advisers now owns 109,656 shares of the company's stock valued at $11,674,000 after purchasing an additional 3,121 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new stake in Novartis in the second quarter valued at approximately $854,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.6 %

Shares of NYSE:NVS traded down $0.70 during trading on Thursday, hitting $113.77. 1,001,863 shares of the company were exchanged, compared to its average volume of 1,372,175. The firm's 50 day moving average price is $115.35 and its 200-day moving average price is $106.41. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The stock has a market capitalization of $232.55 billion, a P/E ratio of 15.35, a PEG ratio of 1.73 and a beta of 0.57.

Novartis (NYSE:NVS - Get Free Report) last announced 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. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion during the quarter, compared to analysts' expectations of $12.24 billion. During the same period in the previous year, the company earned $1.83 earnings per share. On average, research analysts predict that Novartis AG will post 7.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVS shares. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Barclays upgraded shares of Novartis to a "strong sell" rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Novartis in a report on Friday, July 19th. Bank of America downgraded shares of Novartis from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group lowered Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Novartis has an average rating of "Hold" and an average target price 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.