Greenleaf Trust Acquires 987 Shares of Novartis AG (NYSE:NVS)

Greenleaf Trust increased its stake in Novartis AG (NYSE:NVS) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,143 shares of the company’s stock after buying an additional 987 shares during the period. Greenleaf Trust’s holdings in Novartis AG were worth $930,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVS. Primecap Management Co. CA raised its stake in Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares during the period. Wells Fargo & Company MN raised its stake in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares during the period. Parnassus Investments CA raised its stake in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after buying an additional 3,858,632 shares during the period. Bank of America Corp DE raised its stake in Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares during the period. 11.16% of the stock is currently owned by institutional investors and hedge funds.

Novartis AG (NVS) traded down 0.50% during 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 is $83.92 and its 200-day moving average is $79.10. The company has a market cap of $193.90 billion, a P/E ratio of 30.22 and a beta of 0.73.

Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’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 earnings per share. Analysts predict that Novartis AG will post $4.73 EPS for the current fiscal year.

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Several analysts have recently issued reports on the stock. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 22nd. UBS AG reissued a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Vetr lowered 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. Leerink Swann reissued a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. Finally, Credit Suisse Group lowered shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a research report on Wednesday, July 5th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $83.56.

In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.01% of the company’s stock.

About Novartis AG

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)

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