Sheaff Brock Investment Advisors LLC Purchases Shares of 2,731 Novartis AG (NVS)

Sheaff Brock Investment Advisors LLC purchased a new stake in Novartis AG (NYSE:NVS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,731 shares of the company’s stock, valued at approximately $228,000.

Other large investors also recently made changes to their positions in the company. City Holding Co. lifted its holdings 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 acquiring an additional 54 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after acquiring an additional 230 shares during the period. Archford Capital Strategies LLC lifted its holdings in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after acquiring an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC lifted its holdings in 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 valued at $111,000 after acquiring an additional 49 shares during the period. Finally, Massey Quick & Co. LLC acquired a new position in Novartis AG in the first quarter valued at approximately $119,000. 10.98% of the stock is owned by institutional investors.

Novartis AG (NVS) opened at 85.72 on Wednesday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm has a market capitalization of $200.83 billion, a P/E ratio of 31.30 and a beta of 0.74. The stock’s 50 day moving average price is $84.15 and its 200 day moving average price is $80.10.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The business 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 quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. On average, equities analysts expect that Novartis AG will post $4.75 EPS for the current year.

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NVS has been the subject of a number of analyst reports. UBS AG reissued a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Friday, June 2nd. Morgan Stanley reissued a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Finally, Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $83.56.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is owned by company insiders.

Novartis AG 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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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