Novartis AG (NVS) Shares Bought by 1832 Asset Management L.P.
1832 Asset Management L.P. raised its stake in shares of Novartis AG (NYSE:NVS) by 30.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 447,065 shares of the company’s stock after buying an additional 105,524 shares during the period. 1832 Asset Management L.P.’s holdings in Novartis AG were worth $37,083,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Integrated Investment Consultants LLC increased its position in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares during the last quarter. Whitnell & Co. increased its stake in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 180 shares in the last quarter. Iowa State Bank purchased a new stake in Novartis AG during the second quarter worth approximately $122,000. M&R Capital Management Inc. purchased a new stake in Novartis AG during the second quarter worth approximately $122,000. Finally, WFG Advisors LP increased its stake in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 9.78% of the company’s stock.
Novartis AG (NYSE:NVS) traded down 0.78% on Friday, hitting $73.49. The stock had a trading volume of 2,838,371 shares. Novartis AG has a 12 month low of $69.84 and a 12 month high of $89.15. The firm’s 50 day moving average price is $75.52 and its 200-day moving average price is $78.70. The stock has a market cap of $174.58 billion, a PE ratio of 25.91 and a beta of 0.71.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. Novartis AG’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. On average, analysts forecast that Novartis AG will post $4.72 EPS for the current year.
A number of equities research analysts recently commented on NVS shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, July 19th. Argus reiterated a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Chardan Capital started coverage on Novartis AG in a research report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Finally, TheStreet downgraded Novartis AG from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $88.50.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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