Hawkins Capital L.P. Cuts Stake in Novartis AG (NVS)
Hawkins Capital L.P. lowered its position in shares of Novartis AG (NYSE:NVS) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,000 shares of the company’s stock after selling 10,000 shares during the period. Novartis AG comprises approximately 3.2% of Hawkins Capital L.P.’s holdings, making the stock its 15th largest holding. Hawkins Capital L.P.’s holdings in Novartis AG were worth $7,726,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in NVS. City Holding Co. increased its stake 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. WFG Advisors LP increased its stake in shares of Novartis AG by 38.1% during the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after buying an additional 337 shares during the period. Archford Capital Strategies LLC increased its stake in shares of Novartis AG by 72.3% during the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares during the period. Cable Hill Partners LLC increased its stake in shares of Novartis AG by 588.8% during the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after buying an additional 1,107 shares during the period. Finally, North Star Investment Management Corp. increased its stake in shares of Novartis AG by 1.0% during the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 11.00% of the company’s stock.
Several equities analysts have recently commented on the company. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Cowen and Company set a $90.00 price target on Novartis AG and gave the company a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 26th. Leerink Swann raised their price target on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, Barclays PLC lowered Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Novartis AG presently has an average rating of “Hold” and an average target price of $85.32.
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Novartis AG (NYSE NVS) traded up $1.05 on Friday, reaching $84.08. The company’s stock had a trading volume of 1,050,000 shares, compared to its average volume of 1,970,000. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. The stock has a market capitalization of $221,010.00, a price-to-earnings ratio of 17.39, a PEG ratio of 2.63 and a beta of 0.72.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The business had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. research analysts predict 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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