First Allied Advisory Services Inc. raised its position in Novartis AG (NYSE:NVS) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,252 shares of the company’s stock after purchasing an additional 1,746 shares during the period. First Allied Advisory Services Inc.’s holdings in Novartis were worth $1,534,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in shares of Novartis during the second quarter worth $241,000. Narwhal Capital Management increased its position in shares of Novartis by 6.4% during the third quarter. Narwhal Capital Management now owns 53,160 shares of the company’s stock worth $4,564,000 after acquiring an additional 3,200 shares in the last quarter. Founders Capital Management increased its position in shares of Novartis by 4.6% during the third quarter. Founders Capital Management now owns 33,660 shares of the company’s stock worth $2,890,000 after acquiring an additional 1,485 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Novartis by 2.0% during the third quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock worth $569,442,000 after acquiring an additional 127,049 shares in the last quarter. Finally, Hall Capital Management Co. Inc. increased its position in shares of Novartis by 8.8% during the third quarter. Hall Capital Management Co. Inc. now owns 12,950 shares of the company’s stock worth $1,112,000 after acquiring an additional 1,045 shares in the last quarter. 10.96% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Thursday, January 18th. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Leerink Swann increased their target price on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Nord/LB restated a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Novartis presently has an average rating of “Hold” and an average price target of $85.32.
Novartis (NYSE:NVS) last announced its earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. Novartis had a net margin of 15.69% and a return on equity of 16.03%. The business had revenue of $12.92 billion during the quarter, compared to analysts’ expectations of $12.65 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. analysts forecast that Novartis AG will post 5.36 EPS for the current fiscal year.
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Novartis 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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