Country Club Bank Sells 1,427 Shares of Novartis AG (NYSE:NVS)

Country Club Bank lowered its stake in Novartis AG (NYSE:NVS) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,132 shares of the company’s stock after selling 1,427 shares during the period. Country Club Bank’s holdings in Novartis were worth $7,067,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brookstone Capital Management grew its holdings in Novartis by 1.3% during the first quarter. Brookstone Capital Management now owns 12,833 shares of the company’s stock valued at $1,241,000 after purchasing an additional 162 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Novartis by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 111,453 shares of the company’s stock valued at $10,781,000 after buying an additional 5,491 shares during the last quarter. Register Financial Advisors LLC bought a new position in Novartis in the 1st quarter worth $56,000. Independence Bank of Kentucky lifted its position in Novartis by 21.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,963 shares of the company’s stock worth $190,000 after acquiring an additional 346 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Novartis by 3.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,993 shares of the company’s stock valued at $386,000 after acquiring an additional 118 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novartis has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis Stock Up 0.6 %

NVS opened at $113.80 on Friday. The company has a market capitalization of $232.61 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.66 and a beta of 0.57. 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 firm’s fifty day moving average price is $116.44 and its two-hundred day moving average price is $108.42. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92.

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.