Novartis AG (NVS) Position Decreased by Eqis Capital Management Inc.
Eqis Capital Management Inc. decreased its stake in shares of Novartis AG (NYSE:NVS) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,301 shares of the company’s stock after selling 4,672 shares during the period. Eqis Capital Management Inc.’s holdings in Novartis AG were worth $1,444,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Ledyard National Bank increased its position in shares of Novartis AG by 0.9% in the second quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock valued at $286,000 after buying an additional 30 shares during the last quarter. Texan Capital Management increased its position in shares of Novartis AG by 74.3% in the second quarter. Texan Capital Management now owns 37,480 shares of the company’s stock valued at $3,128,000 after buying an additional 15,981 shares during the last quarter. Trust Co. of Oklahoma increased its position in shares of Novartis AG by 1.0% in the second quarter. Trust Co. of Oklahoma now owns 18,627 shares of the company’s stock valued at $1,555,000 after buying an additional 186 shares during the last quarter. Chesley Taft & Associates LLC increased its position in shares of Novartis AG by 1.3% in the second quarter. Chesley Taft & Associates LLC now owns 60,666 shares of the company’s stock valued at $5,064,000 after buying an additional 794 shares during the last quarter. Finally, Leavell Investment Management Inc. purchased a new position in shares of Novartis AG during the second quarter valued at about $318,000. 11.27% of the stock is currently owned by institutional investors and hedge funds.
Novartis AG (NVS) traded down 0.75% during trading on Thursday, reaching $83.55. 566,597 shares of the company’s stock were exchanged. The stock has a market capitalization of $195.75 billion, a price-to-earnings ratio of 30.50 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company’s 50 day moving average price is $84.23 and its 200-day moving average price is $78.55.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during 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 company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. On average, equities analysts expect that Novartis AG will post $4.73 EPS for the current year.
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Several brokerages recently issued reports on NVS. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the company a “hold” rating in a research note on Wednesday. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Novartis AG presently has a consensus rating of “Hold” and a consensus target price of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of Novartis AG stock in a transaction on Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is owned by 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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