Rothschild Investment Corp IL lowered its stake in Novartis AG (NYSE:NVS) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,798 shares of the company’s stock after selling 227 shares during the period. Rothschild Investment Corp IL’s holdings in Novartis AG were worth $1,736,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of NVS. Westwood Holdings Group Inc. raised its position in shares of Novartis AG by 5.6% in the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after buying an additional 285 shares during the last quarter. AT Bancorp increased its stake in shares of Novartis AG by 4.2% in the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock worth $868,000 after buying an additional 470 shares during the last quarter. Physicians Financial Services Inc. boosted its position in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock worth $1,232,000 after buying an additional 1,700 shares during the period. Investment Centers of America Inc. boosted its position in Novartis AG by 3.1% in the first quarter. Investment Centers of America Inc. now owns 7,639 shares of the company’s stock worth $566,000 after buying an additional 231 shares during the period. Finally, Union Bankshares Corp boosted its position in Novartis AG by 0.3% in the second quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after buying an additional 99 shares during the period. 11.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE:NVS) traded down 0.50% during mid-day trading on Friday, reaching $82.76. The company’s stock had a trading volume of 1,319,136 shares. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company’s 50-day moving average price is $83.92 and its 200-day moving average price is $79.10. The stock has a market capitalization 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 results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same quarter last year, the company posted $1.23 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Novartis AG will post $4.73 earnings per share for the current fiscal year.
A number of research firms have recently commented on NVS. BidaskClub cut shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Four investment 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 company presently has an average rating of “Hold” and an average target price of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction on Wednesday, July 5th. The shares were bought at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is currently 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.
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