Dillon & Associates Inc. Cuts Stake in Novartis AG (NVS)
Dillon & Associates Inc. decreased its position in shares of Novartis AG (NYSE:NVS) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,737 shares of the company’s stock after selling 453 shares during the quarter. Dillon & Associates Inc.’s holdings in Novartis AG were worth $891,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NVS. CGOV Asset Management grew its stake in shares of Novartis AG by 2.5% during the 1st quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock worth $98,662,000 after acquiring an additional 24,430 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Novartis AG by 8.1% in the 1st quarter. Nationwide Fund Advisors now owns 53,616 shares of the company’s stock valued at $3,982,000 after acquiring an additional 4,016 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Novartis AG in the 1st quarter valued at about $2,740,000. Schulhoff & Co. Inc. raised its holdings in shares of Novartis AG by 17.3% in the 1st quarter. Schulhoff & Co. Inc. now owns 7,980 shares of the company’s stock valued at $592,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Novartis AG by 12.2% in the 1st quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after acquiring an additional 988,301 shares in the last quarter. Institutional investors own 10.98% of the company’s stock.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction dated 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by insiders.
Shares of Novartis AG (NYSE NVS) opened at 85.63 on Monday. The stock has a market capitalization of $200.62 billion, a P/E ratio of 31.26 and a beta of 0.74. The firm’s 50-day moving average price is $84.13 and its 200-day moving average price is $80.00. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. On average, equities research analysts forecast that Novartis AG will post $4.75 EPS for the current year.
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Several analysts have weighed in on the company. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Cowen and Company set a $90.00 price target on Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Novartis AG presently has an average rating of “Hold” and a consensus price target of $83.56.
Novartis AG 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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