GW Henssler & Associates Ltd. raised its stake in Novartis AG (NYSE:NVS) by 12.9% during the second quarter, Holdings Channel reports. The institutional investor owned 54,479 shares of the company’s stock after buying an additional 6,228 shares during the period. GW Henssler & Associates Ltd.’s holdings in Novartis AG were worth $4,495,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Dearborn Partners LLC increased its stake in Novartis AG by 3.1% in the second quarter. Dearborn Partners LLC now owns 342,484 shares of the company’s stock worth $28,258,000 after buying an additional 10,427 shares during the period. Bartlett & Co. LLC increased its stake in Novartis AG by 1.2% in the second quarter. Bartlett & Co. LLC now owns 446,714 shares of the company’s stock worth $36,858,000 after buying an additional 5,270 shares during the period. Compass Capital Management Inc. increased its stake in Novartis AG by 15.3% in the second quarter. Compass Capital Management Inc. now owns 247,197 shares of the company’s stock worth $20,396,000 after buying an additional 32,845 shares during the period. Royal Bank of Canada increased its stake in Novartis AG by 1.8% in the first quarter. Royal Bank of Canada now owns 1,070,573 shares of the company’s stock worth $77,553,000 after buying an additional 18,714 shares during the period. Finally, Woodley Farra Manion Portfolio Management Inc. purchased a new stake in Novartis AG during the second quarter worth $26,632,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
Novartis AG (NYSE:NVS) traded down 0.87% during trading on Friday, hitting $76.09. 4,034,245 shares of the stock traded hands. The company has a market capitalization of $181.19 billion, a P/E ratio of 27.17 and a beta of 0.57. Novartis AG has a one year low of $69.89 and a one year high of $95.11. The company’s 50 day moving average is $79.43 and its 200 day moving average is $78.94.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The firm had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. During the same period last year, the firm earned $1.25 earnings per share. On average, equities analysts forecast that Novartis AG will post $4.72 EPS for the current fiscal year.
A number of research firms have weighed in on NVS. Zacks Investment Research downgraded Novartis AG from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a report on Tuesday, July 19th. Chardan Capital started coverage on Novartis AG in a report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price target on the stock. TheStreet cut Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Novartis AG in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $91.33.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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