Lockheed Martin Investment Management Co. acquired a new stake in Novartis AG (NYSE:NVS) during the first quarter, Holdings Channel reports. The institutional investor acquired 156,100 shares of the company’s stock, valued at approximately $11,594,000. Novartis AG accounts for 0.7% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 27th largest position.
Other hedge funds also recently made changes to their positions in the company. First PREMIER Bank increased its stake in Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock valued at $166,000 after buying an additional 52 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in Novartis AG by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,021 shares of the company’s stock valued at $150,000 after buying an additional 71 shares during the last quarter. Capital Analysts LLC increased its stake in Novartis AG by 3.5% in the fourth quarter. Capital Analysts LLC now owns 2,156 shares of the company’s stock valued at $157,000 after buying an additional 72 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Novartis AG by 0.8% in the first quarter. Essex Investment Management Co. LLC now owns 9,409 shares of the company’s stock valued at $699,000 after buying an additional 78 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Novartis AG by 1.7% in the fourth quarter. Sunbelt Securities Inc. now owns 4,681 shares of the company’s stock valued at $341,000 after buying an additional 79 shares during the last quarter. 11.39% of the stock is owned by institutional investors.
Shares of Novartis AG (NVS) opened at 80.83 on Friday. Novartis AG has a 1-year low of $66.93 and a 1-year high of $83.58. The stock’s 50 day moving average price is $80.16 and its 200-day moving average price is $75.15. The company has a market capitalization of $191.21 billion, a PE ratio of 30.39 and a beta of 0.76.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, April 25th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. The company had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.59 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. Novartis AG’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Novartis AG will post $4.69 EPS for the current year.
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A number of research firms have issued reports on NVS. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Vetr raised shares of Novartis AG from a “buy” rating to a “strong-buy” rating and set a $85.99 price objective on the stock in a report on Wednesday, March 15th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Novartis AG in a report on Wednesday, March 22nd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Thursday, March 23rd. Finally, BNP Paribas downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating in a report on Tuesday, March 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $83.12.
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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