E&G Advisors LP Has $864,000 Stake in Novartis AG (NYSE:NVS)

E&G Advisors LP continued to hold its stake in Novartis AG (NYSE:NVS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,350 shares of the company’s stock at the end of the second quarter. E&G Advisors LP’s holdings in Novartis AG were worth $864,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Howe & Rusling Inc. raised its position in 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 in the last quarter. City Holding Co. raised its position in 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 in the last quarter. TCI Wealth Advisors Inc. raised its position in 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 in the last quarter. Archford Capital Strategies LLC raised its position in 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 in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC raised its position in 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 in the last quarter. 11.16% of the stock is owned by institutional investors and hedge funds.

Shares of Novartis AG (NVS) traded down 0.50% during trading on Friday, reaching $82.76. 1,319,136 shares of the company traded hands. The firm has a market capitalization of $193.90 billion, a price-to-earnings ratio of 30.22 and a beta of 0.73. The company has a 50 day moving average price of $83.92 and a 200 day moving average price of $79.10. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.

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

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A number of research analysts have weighed in on NVS shares. Zacks Investment Research lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Cowen and Company set a $77.00 target price on shares of Novartis AG and gave the company a “hold” rating in a research note on Tuesday, July 11th. Finally, TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.56.

In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

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.

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

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