Somerville Kurt F Has $16.21 Million Position in Novartis AG (NYSE:NVS)
Somerville Kurt F raised its stake in shares of Novartis AG (NYSE:NVS) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,189 shares of the company’s stock after buying an additional 2,960 shares during the period. Novartis AG accounts for approximately 3.3% of Somerville Kurt F’s portfolio, making the stock its 11th largest position. Somerville Kurt F’s holdings in Novartis AG were worth $16,210,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Primecap Management Co. CA boosted its stake in Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares in the last quarter. Wells Fargo & Company MN boosted its stake in 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. Parnassus Investments CA boosted its stake in 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. Bank of America Corp DE boosted its stake in Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares in the last quarter. Hedge funds and other institutional investors own 11.27% of the company’s stock.
Shares of Novartis AG (NVS) traded up 0.22% during trading on Friday, hitting $83.36. The stock had a trading volume of 920,188 shares. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock has a market capitalization of $195.30 billion, a price-to-earnings ratio of 30.43 and a beta of 0.73. The stock’s 50 day moving average is $84.25 and its 200 day moving average is $78.58.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping 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 return on equity of 15.51% and a net margin of 13.52%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. On average, equities research analysts expect that Novartis AG will post $4.73 earnings per share for the current fiscal year.
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NVS has been the topic of several analyst reports. Vetr cut Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price on the stock. in a research report on Tuesday, April 25th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Finally, UBS AG restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. 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 stock. The stock currently has an average rating of “Hold” and an average price target of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The stock was bought at an average cost 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 available through this hyperlink. 0.01% of the stock is currently owned by corporate 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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