Fayez Sarofim & Co. trimmed its holdings in Novartis AG (NYSE:NVS) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,440,246 shares of the company’s stock after selling 4,047 shares during the period. Fayez Sarofim & Co. owned 0.06% of Novartis AG worth $123,645,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers bought a new stake in shares of Novartis AG during the 2nd quarter worth $241,000. Bartlett & Co. LLC boosted its holdings in shares of Novartis AG by 1.6% during the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after buying an additional 7,249 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after buying an additional 285 shares during the period. GFS Advisors LLC boosted its holdings in shares of Novartis AG by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after buying an additional 1,300 shares during the period. Finally, Schafer Cullen Capital Management Inc. boosted its holdings in shares of Novartis AG by 9.2% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock worth $232,097,000 after buying an additional 233,292 shares during the period. 11.00% of the stock is owned by institutional investors.
Several analysts recently issued reports on NVS shares. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, August 29th. Finally, Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Novartis AG has a consensus rating of “Hold” and a consensus target price of $85.32.
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Shares of Novartis AG (NYSE NVS) traded up $0.96 during trading on Friday, reaching $83.98. 1,545,668 shares of the company’s stock were exchanged, compared to its average volume of 2,337,846. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company has a market cap of $198,662.67, a P/E ratio of 17.68, a PEG ratio of 2.68 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The business’s revenue was up 2.4% on a year-over-year basis. analysts forecast that Novartis AG will post 4.75 earnings per share 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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