Garland Capital Management Inc. raised its stake in shares of Novartis AG (NYSE:NVS) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,450 shares of the company’s stock after buying an additional 1,000 shares during the period. Novartis AG accounts for about 2.6% of Garland Capital Management Inc.’s holdings, making the stock its 24th largest position. Garland Capital Management Inc.’s holdings in Novartis AG were worth $4,294,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of NVS. Peoples Financial Services CORP. raised its position in shares of Novartis AG by 94.3% in the first quarter. Peoples Financial Services CORP. now owns 4,122 shares of the company’s stock valued at $306,000 after buying an additional 2,000 shares during the last quarter. Pinnacle Bank acquired a new position in shares of Novartis AG during the first quarter valued at about $279,000. CGOV Asset Management raised its position in shares of Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after buying an additional 24,430 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock valued at $100,000 after buying an additional 882 shares during the last quarter. Finally, Howland Capital Management LLC raised its position in shares of Novartis AG by 64.4% in the first quarter. Howland Capital Management LLC now owns 157,040 shares of the company’s stock valued at $11,663,000 after buying an additional 61,517 shares during the last quarter. Institutional investors own 11.16% of the company’s stock.
Shares of Novartis AG (NYSE NVS) opened at 84.37 on Thursday. The company’s 50 day moving average price is $84.02 and its 200 day moving average price is $79.00. The firm has a market cap of $197.67 billion, a P/E ratio of 30.80 and a beta of 0.73. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) 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 firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Novartis AG will post $4.73 EPS for the current year.
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Several equities analysts have recently issued reports on NVS shares. Vetr lowered Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research note on Tuesday, April 25th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a research note on Wednesday, May 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Friday, June 2nd. Finally, Morgan Stanley reissued a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $83.56.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.01% of the stock is currently owned by company insiders.
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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