ProVise Management Group LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,041 shares of the company’s stock after buying an additional 9,227 shares during the quarter. Novartis AG makes up 1.1% of ProVise Management Group LLC’s portfolio, making the stock its 22nd largest position. ProVise Management Group LLC’s holdings in Novartis AG were worth $7,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. raised its stake in shares of Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after acquiring an additional 285 shares in the last quarter. AT Bancorp raised its stake in shares of Novartis AG by 4.2% during the 1st quarter. AT Bancorp now owns 11,690 shares of the company’s stock worth $868,000 after acquiring an additional 470 shares in the last quarter. Mechanics Bank Trust Department bought a new position in shares of Novartis AG during the 2nd quarter worth approximately $389,000. Union Bankshares Corp raised its stake in shares of Novartis AG by 0.3% during the 2nd quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after acquiring an additional 99 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its stake in shares of Novartis AG by 41.4% during the 2nd quarter. WealthTrust Axiom LLC now owns 25,032 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,334 shares in the last quarter. Institutional investors own 10.98% of the company’s stock.
NVS has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Credit Suisse Group downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 target price on the stock. in a research report on Wednesday, July 5th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Tuesday, August 29th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 price objective on shares of Novartis AG in a report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Novartis AG has an average rating of “Hold” and a consensus target price of $83.56.
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Shares of Novartis AG (NYSE:NVS) opened at 85.58 on Friday. The firm has a market capitalization of $200.50 billion, a PE ratio of 31.24 and a beta of 0.74. The stock has a 50 day moving average of $84.27 and a 200-day moving average of $80.30. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating 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 business had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. During the same period last year, the business earned $1.23 EPS. The firm’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 EPS for the current fiscal year.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the stock in a transaction on Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.
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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