Novartis AG (NVS) Shares Sold by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group cut its position in Novartis AG (NYSE:NVS) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 4,057 shares of the company’s stock after selling 281 shares during the period. Rehmann Capital Advisory Group’s holdings in Novartis AG were worth $335,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Norris Perne & French LLP MI raised its stake in shares of Novartis AG by 0.8% in the second quarter. Norris Perne & French LLP MI now owns 64,416 shares of the company’s stock worth $5,315,000 after buying an additional 512 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Novartis AG during the second quarter worth about $15,682,000. Trust Co. of Toledo NA OH raised its stake in shares of Novartis AG by 3.4% in the second quarter. Trust Co. of Toledo NA OH now owns 25,437 shares of the company’s stock worth $2,098,000 after buying an additional 832 shares during the last quarter. Ledyard National Bank raised its stake in shares of Novartis AG by 13.6% in the second quarter. Ledyard National Bank now owns 2,343 shares of the company’s stock worth $193,000 after buying an additional 281 shares during the last quarter. Finally, RNC Capital Management LLC acquired a new stake in shares of Novartis AG during the second quarter worth about $381,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded up 1.40% on Tuesday, hitting $81.06. 1,342,125 shares of the company were exchanged. The firm’s 50-day moving average is $80.80 and its 200-day moving average is $78.33. Novartis AG has a 52-week low of $69.90 and a 52-week high of $95.11. The stock has a market capitalization of $193.02 billion, a PE ratio of 28.94 and a beta of 0.58.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The company earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts predict that Novartis AG will post $4.73 earnings per share for the current year.
A number of equities research analysts have issued reports on the company. Chardan Capital assumed coverage on Novartis AG in a research note on Tuesday. They issued a “buy” rating and a $95.00 price target for the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research note on Tuesday, September 13th. Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Finally, Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $91.83.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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