BerganKDV Wealth Management LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,920 shares of the company’s stock after selling 35 shares during the period. BerganKDV Wealth Management LLC’s holdings in Novartis AG were worth $244,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Novartis AG by 168.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 317,697 shares of the company’s stock worth $23,595,000 after buying an additional 199,198 shares during the last quarter. Moreno Evelyn V boosted its stake in shares of Novartis AG by 15.3% in the first quarter. Moreno Evelyn V now owns 87,015 shares of the company’s stock worth $6,463,000 after buying an additional 11,520 shares during the last quarter. Rosenbaum Jay D. boosted its stake in shares of Novartis AG by 26.7% in the first quarter. Rosenbaum Jay D. now owns 4,745 shares of the company’s stock worth $352,000 after buying an additional 1,000 shares during the last quarter. Cohen Lawrence B boosted its stake in shares of Novartis AG by 17.2% in the first quarter. Cohen Lawrence B now owns 25,788 shares of the company’s stock worth $1,915,000 after buying an additional 3,780 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division boosted its stake in shares of Novartis AG by 16.6% in the first quarter. First Financial Bank N.A. Trust Division now owns 4,394 shares of the company’s stock worth $327,000 after buying an additional 625 shares during the last quarter. Hedge funds and other institutional investors own 11.27% of the company’s stock.
Novartis AG (NVS) traded up 0.20% during mid-day trading on Friday, reaching $83.35. 1,363,885 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $84.17 and a 200-day moving average of $78.68. The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 30.43 and a beta of 0.73. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. On average, equities research analysts anticipate that Novartis AG will post $4.73 earnings per share for the current year.
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Several equities research analysts recently weighed in on the stock. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research report on Wednesday. BidaskClub cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Finally, TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $83.56.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.01% of the company’s stock.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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