Novartis AG (NVS) Stake Increased by Morningstar Investment Services LLC
Morningstar Investment Services LLC lifted its position in Novartis AG (NYSE:NVS) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,268 shares of the company’s stock after acquiring an additional 29,282 shares during the quarter. Morningstar Investment Services LLC’s holdings in Novartis AG were worth $35,908,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in shares of Novartis AG in the 2nd quarter worth $241,000. Bartlett & Co. LLC grew its stake in shares of Novartis AG by 1.6% in the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after acquiring an additional 7,249 shares in the last quarter. GFS Advisors LLC grew its stake in shares of Novartis AG by 6.5% in the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,300 shares in the last quarter. Schafer Cullen Capital Management Inc. grew its stake in shares of Novartis AG by 9.2% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock worth $232,097,000 after acquiring an additional 233,292 shares in the last quarter. Finally, Union Bankshares Corp grew its stake in shares of Novartis AG by 0.3% in the 2nd quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 10.74% of the company’s stock.
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NVS has been the subject of several recent analyst reports. Barclays PLC lowered shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, September 19th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.32.
Shares of Novartis AG (NYSE NVS) traded up $0.20 during trading hours on Thursday, hitting $84.48. 1,540,300 shares of the company were exchanged, compared to its average volume of 2,325,532. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market cap of $199,372.34, a P/E ratio of 17.74, a P/E/G ratio of 2.69 and a beta of 0.72. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. analysts predict that Novartis AG will post 4.75 EPS for the current year.
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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