Pittenger & Anderson Inc. Has $1.78 Million Stake in Novartis AG (NVS)
Pittenger & Anderson Inc. grew its stake in shares of Novartis AG (NYSE:NVS) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,275 shares of the company’s stock after buying an additional 2,100 shares during the period. Pittenger & Anderson Inc.’s holdings in Novartis AG were worth $1,776,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. City Holding Co. increased its position in shares of Novartis AG by 4.6% during the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after purchasing an additional 230 shares during the last quarter. Archford Capital Strategies LLC increased its position in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after purchasing an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC increased its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after purchasing an additional 49 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Novartis AG by 1.0% in the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 10.98% of the company’s stock.
In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by corporate insiders.
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Several research firms recently weighed in on NVS. UBS AG restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. BidaskClub cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.56.
Novartis AG (NVS) opened at 85.59 on Tuesday. The company has a market cap of $200.53 billion, a P/E ratio of 31.25 and a beta of 0.74. The firm has a 50-day moving average price of $84.11 and a 200-day moving average price of $80.06. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ 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 period in the prior year, the business earned $1.23 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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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