Wellington Shields Capital Management LLC cut its position in shares of Novartis AG (NYSE:NVS) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,234 shares of the company’s stock after selling 28 shares during the period. Wellington Shields Capital Management LLC’s holdings in Novartis AG were worth $270,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. CGOV Asset Management boosted its stake in shares of Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after buying an additional 24,430 shares during the last quarter. Pinnacle Bank purchased a new stake in shares of Novartis AG during the first quarter valued at $279,000. Peoples Financial Services CORP. boosted its stake in shares of Novartis AG by 94.3% in the first quarter. Peoples Financial Services CORP. now owns 4,122 shares of the company’s stock valued at $306,000 after buying an additional 2,000 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Novartis AG during the first quarter valued at $456,000. Finally, Bristol John W & Co. Inc. NY boosted its stake in shares of Novartis AG by 26.4% in the first quarter. Bristol John W & Co. Inc. NY now owns 1,059,717 shares of the company’s stock valued at $78,705,000 after buying an additional 221,250 shares during the last quarter. 11.27% of the stock is owned by institutional investors.
Shares of Novartis AG (NYSE:NVS) traded up 0.16% on Friday, reaching $83.31. 906,292 shares of the company’s stock traded hands. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The stock has a 50-day moving average of $84.25 and a 200 day moving average of $78.58. The firm has a market cap of $195.19 billion, a P/E ratio of 30.42 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during 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%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. On average, equities research analysts expect that Novartis AG will post $4.73 earnings per share for the current year.
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Several equities research analysts have weighed in on the stock. Leerink Swann reissued a “market perform” rating and set a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Cowen and Company set a $90.00 price target on shares of Novartis AG and gave the company a “hold” rating in a research report on Wednesday. Finally, Credit Suisse Group cut shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a research report on Wednesday, July 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company 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 stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average cost 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 currently 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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