Telos Capital Management Inc. Sells 430 Shares of Novartis AG (NYSE:NVS)

Telos Capital Management Inc. lowered its holdings in shares of Novartis AG (NYSE:NVS) by 1.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 26,647 shares of the company’s stock after selling 430 shares during the period. Telos Capital Management Inc.’s holdings in Novartis were worth $3,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Novartis in the 1st quarter valued at approximately $47,000. Gateway Investment Advisers LLC acquired a new stake in Novartis in the first quarter valued at approximately $230,000. IAM Advisory LLC grew its stake in shares of Novartis by 3.4% during the first quarter. IAM Advisory LLC now owns 13,710 shares of the company’s stock worth $1,326,000 after buying an additional 452 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Novartis by 1.3% during the first quarter. Brookstone Capital Management now owns 12,833 shares of the company’s stock worth $1,241,000 after buying an additional 162 shares in the last quarter. Finally, Stonebridge Capital Management Inc. lifted its stake in shares of Novartis by 4.2% in the 1st quarter. Stonebridge Capital Management Inc. now owns 15,025 shares of the company’s stock valued at $1,453,000 after acquiring an additional 600 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NYSE:NVS opened at $115.76 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92. The company has a 50 day simple moving average of $116.39 and a two-hundred day simple moving average of $108.22. The company has a market capitalization of $236.61 billion, a PE ratio of 14.67, a P/E/G ratio of 1.70 and a beta of 0.57.

Analysts Set New Price Targets

NVS has been the topic of a number of research reports. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.70.

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.