Patten & Patten Inc. TN Has $7.07 Million Position in Novartis AG (NVS)

Patten & Patten Inc. TN reduced its position in shares of Novartis AG (NYSE:NVS) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 84,754 shares of the company’s stock after selling 96 shares during the period. Patten & Patten Inc. TN’s holdings in Novartis AG were worth $7,074,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Howe & Rusling Inc. boosted its position in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the last quarter. City Holding Co. boosted its position in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC boosted its position in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC boosted its position in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 11.16% of the company’s stock.

Shares of Novartis AG (NYSE:NVS) traded down 0.50% during midday trading on Friday, reaching $82.76. 1,319,136 shares of the company’s stock were exchanged. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The stock’s 50 day moving average price is $83.92 and its 200 day moving average price is $79.10. The company has a market cap of $193.90 billion, a price-to-earnings ratio of 30.22 and a beta of 0.73.

Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities analysts anticipate that Novartis AG will post $4.73 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Patten & Patten Inc. TN Has $7.07 Million Position in Novartis AG (NVS)” was published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this article on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/novartis-ag-nvs-position-cut-by-patten-patten-inc-tn-updated-updated-updated.html.

Several equities analysts recently issued reports on NVS shares. TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Barclays PLC upgraded shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Vetr cut shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research report on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the company a “hold” rating in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply