Walled Lake Planning & Wealth Management LLC Buys 762 Shares of Novartis AG $NVS

Walled Lake Planning & Wealth Management LLC lifted its stake in Novartis AG (NYSE:NVS) by 1.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 52,701 shares of the company’s stock after buying an additional 762 shares during the period. Novartis makes up approximately 2.1% of Walled Lake Planning & Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Novartis were worth $6,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. GFG Capital LLC bought a new stake in Novartis in the second quarter valued at approximately $26,000. WPG Advisers LLC bought a new stake in Novartis during the 1st quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in Novartis during the 2nd quarter valued at $30,000. Barrett & Company Inc. purchased a new position in shares of Novartis in the second quarter valued at about $31,000. Finally, MCF Advisors LLC raised its stake 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 acquiring an additional 105 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Thursday. Cowen reissued a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Morgan Stanley raised shares of Novartis from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. Finally, HC Wainwright lowered shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $122.33.

Novartis Stock Up 2.3%

Shares of NYSE:NVS opened at $127.28 on Friday. Novartis AG has a 12-month low of $96.06 and a 12-month high of $134.00. The stock has a market capitalization of $268.87 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.93 and a beta of 0.60. The stock has a fifty day simple moving average of $127.63 and a two-hundred day simple moving average of $121.91. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The firm had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.Novartis’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

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.