Private Wealth Partners LLC Boosts Position in Novartis AG (NVS)
Private Wealth Partners LLC increased its stake in Novartis AG (NYSE:NVS) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the company’s stock after buying an additional 300 shares during the period. Private Wealth Partners LLC’s holdings in Novartis AG were worth $317,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Parnassus Investments CA increased its position in shares of Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after buying an additional 3,858,632 shares in the last quarter. BlackRock Inc. bought a new position in shares of Novartis AG during the first quarter valued at about $210,378,000. Janus Capital Management LLC increased its position in shares of Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock valued at $130,696,000 after buying an additional 1,754,716 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Novartis AG during the first quarter valued at about $51,745,000. Hedge funds and other institutional investors own 11.27% of the company’s stock.
Shares of Novartis AG (NYSE NVS) opened at 83.35 on Friday. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm has a 50-day moving average of $84.17 and a 200 day moving average of $78.68. The stock has a market capitalization of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, equities analysts anticipate that Novartis AG will post $4.73 earnings per share for the current fiscal year.
Several research analysts recently issued reports on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research report on Wednesday, July 5th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Leerink Swann restated a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, April 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $83.56.
In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of Novartis AG stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.01% of the stock is currently owned by corporate insiders.
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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