Westwood Holdings Group Inc. Has $2.40 Million Holdings in Novartis AG (NVS)
Westwood Holdings Group Inc. raised its position in shares of Novartis AG (NYSE:NVS) by 432.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,785 shares of the company’s stock after purchasing an additional 23,380 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Novartis AG were worth $2,403,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. City Holding Co. grew its stake in shares of 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 during the period. Archford Capital Strategies LLC grew 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 worth $110,000 after acquiring an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC grew 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 worth $111,000 after acquiring an additional 49 shares during the period. Massey Quick & Co. LLC bought a new stake in shares of Novartis AG in the first quarter worth approximately $119,000. Finally, North Star Investment Management Corp. grew 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 worth $129,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 10.93% of the company’s stock.
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A number of analysts have recently commented on the stock. Leerink Swann reiterated a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research note on Thursday, June 22nd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Novartis AG presently has a consensus rating of “Hold” and a consensus target price of $84.13.
Shares of Novartis AG (NVS) traded up 0.4421% during mid-day trading on Monday, reaching $86.5108. 109,949 shares of the company traded hands. The firm has a 50-day moving average price of $85.27 and a 200 day moving average price of $81.90. The firm has a market capitalization of $202.69 billion, a price-to-earnings ratio of 31.5848 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 quarterly 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 net margin of 13.52% and a return on equity of 15.51%. 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 prior year, the company earned $1.23 EPS. Novartis AG’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts anticipate that Novartis AG will post $4.75 earnings per share for the current year.
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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