TCW Group Inc. Holds Position in Novartis AG (NYSE:NVS)
TCW Group Inc. held its position in Novartis AG (NYSE:NVS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,336 shares of the company’s stock at the end of the first quarter. TCW Group Inc.’s holdings in Novartis AG were worth $1,733,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. raised 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 valued at $100,000 after buying an additional 882 shares during the last quarter. TCI Wealth Advisors Inc. raised 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 valued at $103,000 after buying an additional 230 shares during the last quarter. North Star Investment Management Corp. raised its position in Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock valued at $113,000 after buying an additional 511 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Novartis AG during the fourth quarter valued at $116,000. Finally, Massey Quick & Co. LLC acquired a new position in Novartis AG during the first quarter valued at $119,000. 11.28% of the stock is currently owned by hedge funds and other institutional investors.
Novartis AG (NYSE:NVS) traded up 0.12% during mid-day trading on Friday, hitting $84.97. The stock had a trading volume of 990,012 shares. The company has a market capitalization of $199.08 billion, a P/E ratio of 31.02 and a beta of 0.73. The stock’s 50-day moving average is $83.64 and its 200 day moving average is $78.07. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. Novartis AG’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. Equities analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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Several research analysts recently weighed in on the company. UBS AG reissued a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Cowen and Company reissued a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Finally, TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Four investment 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. The company has a consensus rating of “Hold” and a consensus target price of $81.71.
In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired 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 Securities & Exchange Commission, 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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