Total Clarity Wealth Management Inc. Makes New $221,000 Investment in Novartis AG $NVS

Total Clarity Wealth Management Inc. acquired a new stake in Novartis AG (NYSE:NVS) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,830 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds also recently modified their holdings of the stock. Essex Savings Bank increased its stake in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after acquiring an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after acquiring an additional 85 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock valued at $650,000 after acquiring an additional 92 shares in the last quarter. Ascent Group LLC increased its stake in shares of Novartis by 0.7% in the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company’s stock valued at $1,709,000 after acquiring an additional 97 shares in the last quarter. Finally, Sage Rhino Capital LLC increased its stake in shares of Novartis by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company’s stock valued at $983,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVS. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group reissued 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. Morgan Stanley raised shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Stock Performance

Shares of NVS stock opened at $130.31 on Wednesday. The firm has a 50-day moving average of $125.62 and a 200-day moving average of $118.16. The company has a market cap of $275.27 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. Novartis AG has a one year low of $96.06 and a one year high of $133.55.

Novartis (NYSE:NVS) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $13.94 billion. During the same period in the previous year, the company earned $1.97 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

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.