Acadian Asset Management LLC Holds Position in Novartis AG (NYSE:NVS)
Acadian Asset Management LLC continued to hold its stake in Novartis AG (NYSE:NVS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,590 shares of the company’s stock at the end of the second quarter. Acadian Asset Management LLC’s holdings in Novartis AG were worth $1,385,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. City Holding Co. raised its stake in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares in the last quarter. Howe & Rusling Inc. raised its stake 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 period. TCI Wealth Advisors Inc. raised its stake 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 period. Archford Capital Strategies LLC raised its stake 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 period. Finally, Kernodle & Katon Asset Management Group LLC raised its stake 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 period. 11.27% of the stock is owned by institutional investors.
Novartis AG (NYSE:NVS) traded down 0.97% during midday trading on Thursday, hitting $83.36. The company had a trading volume of 696,999 shares. The firm has a 50-day moving average price of $84.23 and a 200-day moving average price of $78.55. The company has a market cap of $195.30 billion, a price-to-earnings ratio of 30.43 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities analysts anticipate that Novartis AG will post $4.73 EPS for the current year.
A number of research analysts have recently commented on the company. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Cowen and Company set a $90.00 price target on Novartis AG and gave the stock a “hold” rating in a research report on Wednesday. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.56.
In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction that occurred on 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 accessible through this hyperlink. 0.01% of the stock is owned by company insiders.
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.
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