Argent Trust Co Raises Position in Novartis AG (NVS)

Argent Trust Co increased its stake in shares of Novartis AG (NYSE:NVS) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,829 shares of the company’s stock after purchasing an additional 832 shares during the period. Argent Trust Co’s holdings in Novartis AG were worth $737,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. City Holding Co. raised its holdings in Novartis AG by 4.6% in the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after acquiring an additional 54 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in Novartis AG by 20.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after acquiring an additional 230 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after acquiring an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its holdings in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after acquiring an additional 49 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in Novartis AG by 50.3% in the 1st quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock valued at $113,000 after acquiring an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 10.98% of the company’s stock.

Several research analysts have weighed in on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a report on Wednesday, July 5th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Leerink Swann reiterated a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a report on Thursday, June 22nd. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $83.56.

In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.01% of the stock is owned by corporate insiders.

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Shares of Novartis AG (NYSE NVS) opened at 85.63 on Friday. The stock’s 50 day moving average is $84.13 and its 200 day moving average is $80.00. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock has a market capitalization of $200.62 billion, a PE ratio of 31.26 and a beta of 0.74.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Analysts anticipate that Novartis AG will post $4.75 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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