Capital International Investors Holds Position in Novartis AG (NVS)
Capital International Investors continued to hold its stake in Novartis AG (NYSE:NVS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,464,000 shares of the company’s stock at the end of the 2nd quarter. Capital International Investors owned 0.06% of Novartis AG worth $122,200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVS. City Holding Co. lifted 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 worth $102,000 after purchasing an additional 54 shares in the last quarter. Archford Capital Strategies LLC boosted its stake 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 valued at $110,000 after purchasing an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC boosted its stake 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 valued at $111,000 after purchasing an additional 49 shares during the period. North Star Investment Management Corp. boosted its stake 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 valued at $129,000 after purchasing an additional 16 shares during the period. Finally, Massey Quick & Co. LLC purchased a new position in shares of Novartis AG in the first quarter valued at approximately $119,000. 10.93% of the stock is currently owned by institutional investors.
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NVS has been the topic of several recent research reports. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 22nd. Credit Suisse Group cut shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a research report on Wednesday, July 5th. Leerink Swann reissued a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. Barclays PLC upgraded shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Finally, Cowen and Company restated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Novartis AG currently has an average rating of “Hold” and an average price target of $85.12.
Novartis AG (NYSE:NVS) traded down 0.14% during trading on Wednesday, reaching $86.53. The company had a trading volume of 331,827 shares. The stock has a 50 day moving average price of $84.67 and a 200-day moving average price of $81.25. The company has a market capitalization of $202.73 billion, a PE ratio of 31.59 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week 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 company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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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