1ST Source Bank Lowers Stake in Novartis AG (NYSE:NVS)

1ST Source Bank reduced its stake in Novartis AG (NYSE:NVS) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,779 shares of the company’s stock after selling 209 shares during the period. 1ST Source Bank’s holdings in Novartis AG were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. City Holding Co. increased its position in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares during the last quarter. Howe & Rusling Inc. increased its position in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC increased its position in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 11.27% of the company’s stock.

Shares of Novartis AG (NVS) opened at 83.35 on Friday. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The stock has a market capitalization of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73. The company has a 50-day moving average of $84.17 and a 200-day moving average of $78.68.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. On average, equities research analysts expect that Novartis AG will post $4.73 EPS for the current fiscal year.

WARNING: This report was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another website, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this report can be viewed at https://www.com-unik.info/2017/08/12/1st-source-bank-lowers-stake-in-novartis-ag-nysenvs.html.

A number of equities analysts recently commented on the stock. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 22nd. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday. Leerink Swann reiterated a “market perform” rating and set a $83.00 target price on shares of Novartis AG in a research note on Thursday, June 22nd. Finally, Vetr downgraded shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price for the company. in a research note on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $83.56.

In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

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.

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

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

What are top analysts saying about Novartis AG? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Novartis AG and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit