Fayez Sarofim & Co Decreases Position in Novartis AG (NVS)
Fayez Sarofim & Co decreased its position in shares of Novartis AG (NYSE:NVS) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,478,201 shares of the company’s stock after selling 16,999 shares during the period. Fayez Sarofim & Co owned 0.06% of Novartis AG worth $109,787,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Dodge & Cox bought a new stake in shares of Novartis AG during the fourth quarter worth approximately $3,330,137,000. Parnassus Investments CA raised its stake in shares of Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Novartis AG during the first quarter worth approximately $51,745,000. Finally, Thomaspartners Inc. raised its stake in shares of Novartis AG by 11.0% in the first quarter. Thomaspartners Inc. now owns 3,351,063 shares of the company’s stock worth $248,883,000 after buying an additional 332,285 shares in the last quarter. Institutional investors and hedge funds own 11.28% of the company’s stock.
Novartis AG (NYSE NVS) traded down 0.47% during midday trading on Thursday, reaching $84.87. 962,708 shares of the company were exchanged. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm’s 50 day moving average price is $83.64 and its 200-day moving average price is $78.07. The stock has a market capitalization of $222.09 billion, a P/E ratio of 30.10 and a beta of 0.73.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the 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 business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Novartis AG will post $4.78 EPS for the current fiscal year.
A number of analysts have recently commented on NVS shares. Zacks Investment Research lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Cowen and Company set a $77.00 target price on shares of Novartis AG and gave the company a “hold” rating in a research report on Tuesday, July 11th. Finally, TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Novartis AG presently has a consensus rating of “Hold” and an average target price of $81.71.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired 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 accessible through this hyperlink. 0.01% of the stock is currently owned by insiders.
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.
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