Scotia Capital Inc. cut its holdings in shares of Novartis AG (NYSE:NVS) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,694 shares of the company’s stock after selling 430 shares during the quarter. Scotia Capital Inc.’s holdings in Novartis AG were worth $5,567,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Farr Miller & Washington LLC DC increased its holdings in shares of Novartis AG by 0.3% during the second quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock worth $247,000 after purchasing an additional 10 shares during the period. FCG Advisors LLC increased its holdings in shares of Novartis AG by 0.3% during the second quarter. FCG Advisors LLC now owns 4,271 shares of the company’s stock worth $357,000 after purchasing an additional 12 shares during the period. Washington Trust Bank increased its holdings in shares of Novartis AG by 0.3% during the second quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock worth $366,000 after purchasing an additional 14 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Novartis AG by 1.0% during the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after purchasing an additional 16 shares during the period. Finally, Ledyard National Bank increased its holdings in shares of Novartis AG by 0.9% during the second quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock worth $286,000 after purchasing an additional 30 shares during the period. 10.92% of the stock is currently owned by institutional investors.
Novartis AG (NYSE:NVS) traded up 0.43% during mid-day trading on Wednesday, hitting $86.11. 531,561 shares of the company traded hands. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The firm has a market capitalization of $225.34 billion, a P/E ratio of 30.54 and a beta of 0.73. The firm has a 50 day moving average of $84.99 and a 200 day moving average of $81.65.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. Equities research analysts expect that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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Several research analysts have recently commented on the stock. BidaskClub cut shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Cowen and Company set a $90.00 target price on shares of Novartis AG and gave the stock a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Tuesday. Finally, Zacks Investment Research cut shares of Novartis AG from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $84.13.
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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