State Street Corp Increases Holdings in Novartis AG (NVS)

State Street Corp raised its position in shares of Novartis AG (NYSE:NVS) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,046,276 shares of the company’s stock after purchasing an additional 68,834 shares during the period. State Street Corp owned 0.13% of Novartis AG worth $254,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVS. CGOV Asset Management grew its holdings in Novartis AG by 2.5% during the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after purchasing an additional 24,430 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Novartis AG by 17.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 45,651 shares of the company’s stock valued at $3,391,000 after purchasing an additional 6,639 shares during the period. Bahl & Gaynor Inc. grew its holdings in Novartis AG by 7.8% during the first quarter. Bahl & Gaynor Inc. now owns 446,708 shares of the company’s stock valued at $33,177,000 after purchasing an additional 32,275 shares during the period. Wealthsource Partners LLC grew its holdings in Novartis AG by 16.3% during the first quarter. Wealthsource Partners LLC now owns 3,222 shares of the company’s stock valued at $239,000 after purchasing an additional 451 shares during the period. Finally, Clifford Swan Investment Counsel LLC grew its holdings in Novartis AG by 31.9% during the first quarter. Clifford Swan Investment Counsel LLC now owns 120,130 shares of the company’s stock valued at $8,922,000 after purchasing an additional 29,074 shares during the period. 10.93% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on NVS. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, October 10th. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Friday, October 6th. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Cowen and Company set a $90.00 price objective on Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.13.

Shares of Novartis AG (NYSE:NVS) opened at 86.37 on Tuesday. The stock has a market cap of $202.36 billion, a P/E ratio of 31.53 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The firm’s 50 day moving average price is $85.27 and its 200 day moving average price is $81.90.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.20 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Novartis AG’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Novartis AG will post $4.75 EPS for the current year.

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A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVS. CGOV Asset Management grew its holdings in Novartis AG by 2.5% during the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after purchasing an additional 24,430 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Novartis AG by 17.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 45,651 shares of the company’s stock valued at $3,391,000 after purchasing an additional 6,639 shares during the period. Bahl & Gaynor Inc. grew its holdings in Novartis AG by 7.8% during the first quarter. Bahl & Gaynor Inc. now owns 446,708 shares of the company’s stock valued at $33,177,000 after purchasing an additional 32,275 shares during the period. Wealthsource Partners LLC grew its holdings in Novartis AG by 16.3% during the first quarter. Wealthsource Partners LLC now owns 3,222 shares of the company’s stock valued at $239,000 after purchasing an additional 451 shares during the period. Finally, Clifford Swan Investment Counsel LLC grew its holdings in Novartis AG by 31.9% during the first quarter. Clifford Swan Investment Counsel LLC now owns 120,130 shares of the company’s stock valued at $8,922,000 after purchasing an additional 29,074 shares during the period. 10.93% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on NVS. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, October 10th. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Friday, October 6th. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Cowen and Company set a $90.00 price objective on Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.13.

Shares of Novartis AG (NYSE:NVS) opened at 86.37 on Tuesday. The stock has a market cap of $202.36 billion, a P/E ratio of 31.53 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The firm’s 50 day moving average price is $85.27 and its 200 day moving average price is $81.90.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.20 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Novartis AG’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Novartis AG will post $4.75 EPS for the current 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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Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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