Hartland & Co. LLC raised its stake in Novartis AG (NYSE:NVS) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,827 shares of the company’s stock after buying an additional 95 shares during the period. Hartland & Co. LLC’s holdings in Novartis AG were worth $1,547,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox acquired a new position in shares of Novartis AG during the fourth quarter valued at $3,330,137,000. Wells Fargo & Company MN increased its position in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares during the last quarter. Parnassus Investments CA increased its position in shares of Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after buying an additional 3,858,632 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Novartis AG by 0.8% in the first quarter. Fisher Asset Management LLC now owns 6,121,673 shares of the company’s stock valued at $454,657,000 after buying an additional 46,803 shares during the last quarter. Finally, Thomaspartners Inc. boosted its stake in shares of Novartis AG by 11.0% in the first quarter. Thomaspartners Inc. now owns 3,351,063 shares of the company’s stock valued at $248,883,000 after buying an additional 332,285 shares during the last quarter. 11.29% of the stock is owned by institutional investors and hedge funds.
Shares of Novartis AG (NYSE NVS) opened at 82.32 on Monday. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The firm has a 50-day moving average price of $81.82 and a 200 day moving average price of $76.18. The stock has a market capitalization of $194.74 billion, a PE ratio of 30.95 and a beta of 0.73.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.59 billion. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, equities analysts expect that Novartis AG will post $4.72 EPS for the current fiscal year.
Several analysts recently commented on the company. Morgan Stanley reiterated a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th. Leerink Swann reiterated a “market perform” rating and set a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. Vetr cut Novartis AG from a “strong-buy” rating to a “buy” rating and set a $84.66 price target for the company. in a research report on Monday, March 13th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, March 14th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $82.99.
In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by insiders.
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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