Whittier Trust Co. decreased its stake in shares of Novartis AG (NYSE:NVS) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,406 shares of the company’s stock after selling 4,949 shares during the period. Whittier Trust Co.’s holdings in Novartis AG were worth $7,377,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Pacad Investment Ltd. acquired a new stake in shares of Novartis AG during the first quarter valued at $261,000. RMB Capital Management LLC increased its stake in shares of Novartis AG by 1.4% in the first quarter. RMB Capital Management LLC now owns 26,331 shares of the company’s stock valued at $1,906,000 after buying an additional 372 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its stake in shares of Novartis AG by 30.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 19,207 shares of the company’s stock valued at $1,391,000 after buying an additional 4,521 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock valued at $869,189,000 after buying an additional 2,195,618 shares during the last quarter. Finally, Woodstock Corp acquired a new stake in shares of Novartis AG during the first quarter valued at $852,000. 9.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE:NVS) traded up 0.34% on Wednesday, hitting $79.13. The stock had a trading volume of 932,123 shares. The company has a market capitalization of $188.43 billion, a P/E ratio of 28.25 and a beta of 0.57. The firm has a 50 day moving average price of $80.18 and a 200 day moving average price of $78.86. Novartis AG has a one year low of $69.90 and a one year high of $95.11.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. During the same quarter in the prior year, the business earned $1.25 EPS. On average, equities research analysts predict that Novartis AG will post $4.72 earnings per share for the current fiscal year.
A number of research firms have recently commented on NVS. Zacks Investment Research raised Novartis AG from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. TheStreet raised Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Wednesday, July 13th. Finally, Argus reissued a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Novartis AG currently has an average rating of “Hold” and an average target price of $91.83.
About Novartis AG
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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