Novartis AG (NVS) Shares Sold by Wilbanks Smith & Thomas Asset Management LLC
Wilbanks Smith & Thomas Asset Management LLC decreased its holdings in Novartis AG (NYSE:NVS) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,273 shares of the company’s stock after selling 110 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Novartis AG were worth $524,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in NVS. City Holding Co. raised its position in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after acquiring an additional 54 shares in the last quarter. Archford Capital Strategies LLC raised its position in 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 acquiring an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in 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 acquiring an additional 49 shares in the last quarter. Massey Quick & Co. LLC purchased a new position in Novartis AG in the first quarter worth $119,000. Finally, North Star Investment Management Corp. raised its position in 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 acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 10.92% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub cut Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Tuesday. Finally, Zacks Investment Research cut Novartis AG from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.13.
Novartis AG (NYSE NVS) traded up 0.47% during mid-day trading on Wednesday, reaching $86.14. The company’s stock had a trading volume of 532,918 shares. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The company has a market capitalization of $225.42 billion, a PE ratio of 30.55 and a beta of 0.73. The firm has a 50 day moving average price of $84.99 and a 200-day moving average price of $81.65.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Novartis AG will post $4.75 EPS for the current fiscal year.
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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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