Tocqueville Asset Management L.P. boosted its holdings in shares of Novartis AG (NYSE:NVS) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 531,156 shares of the company’s stock after acquiring an additional 35,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Novartis AG were worth $45,600,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. City Holding Co. boosted its holdings in Novartis AG by 4.6% during 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 period. WFG Advisors LP lifted its holdings in shares of Novartis AG by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after buying an additional 337 shares during the period. Cable Hill Partners LLC lifted its holdings in shares of Novartis AG by 588.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after buying an additional 1,107 shares during the period. Archford Capital Strategies LLC lifted its holdings in shares of Novartis AG by 72.3% in the 1st 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 period. Finally, Kernodle & Katon Asset Management Group LLC lifted its holdings in shares of 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 worth $111,000 after buying an additional 49 shares during the period. Institutional investors own 10.94% of the company’s stock.
Several brokerages have weighed in on NVS. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 26th. Zacks Investment Research cut Novartis AG from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Leerink Swann upped their target price on Novartis AG from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Novartis AG has an average rating of “Hold” and an average price target of $85.28.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The business had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis.
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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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