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.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://sportsperspectives.com/2017/09/13/sheaff-brock-investment-advisors-llc-purchases-shares-of-2731-novartis-ag-nvs.html.
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.
Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.