Private Asset Management Inc. lowered its stake in shares of Novartis AG (NYSE:NVS) by 92.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,642 shares of the company’s stock after selling 79,493 shares during the quarter. Private Asset Management Inc.’s holdings in Novartis AG were worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the stock. Beacon Financial Group boosted its stake in Novartis AG by 27.8% during the third quarter. Beacon Financial Group now owns 30,879 shares of the company’s stock worth $2,651,000 after acquiring an additional 6,713 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in shares of Novartis AG by 10.6% in the third quarter. Eqis Capital Management Inc. now owns 19,137 shares of the company’s stock worth $1,643,000 after buying an additional 1,836 shares in the last quarter. Park National Corp OH lifted its stake in shares of Novartis AG by 2.4% in the third quarter. Park National Corp OH now owns 304,981 shares of the company’s stock worth $26,183,000 after buying an additional 7,091 shares in the last quarter. Ardsley Advisory Partners bought a new position in shares of Novartis AG in the second quarter worth approximately $334,000. Finally, Intl Fcstone Inc. lifted its stake in shares of Novartis AG by 70.1% in the second quarter. Intl Fcstone Inc. now owns 22,265 shares of the company’s stock worth $1,858,000 after buying an additional 9,173 shares in the last quarter. 10.94% of the stock is currently owned by institutional investors and hedge funds.
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Novartis AG (NVS) traded down 0.26% on Friday, hitting $80.70. 2,395,680 shares of the stock traded hands. The company has a market capitalization of $189.07 billion, a PE ratio of 29.46 and a beta of 0.73. The firm has a 50-day moving average price of $85.52 and a 200-day moving average price of $82.47. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. Analysts forecast that Novartis AG will post $4.75 earnings per share for the current year.
Several research analysts have recently issued reports on NVS shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 5th. Zacks Investment Research upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Thursday. Leerink Swann upped their target price on shares of Novartis AG from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.28.
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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