Raymond James Trust N.A. boosted its stake in shares of Novartis AG (NYSE:NVS) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 41,965 shares of the company’s stock after buying an additional 1,312 shares during the period. Raymond James Trust N.A.’s holdings in Novartis AG were worth $3,116,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Weaver C. Barksdale & Associates Inc. increased its stake in shares of Novartis AG by 37.0% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 17,340 shares of the company’s stock valued at $1,288,000 after buying an additional 4,683 shares in the last quarter. New England Research & Management Inc. increased its stake in shares of Novartis AG by 54.2% in the first quarter. New England Research & Management Inc. now owns 15,850 shares of the company’s stock valued at $1,177,000 after buying an additional 5,570 shares in the last quarter. Northstar Group Inc. purchased a new stake in shares of Novartis AG during the first quarter valued at $285,000. Cardinal Capital Management Inc. increased its stake in shares of Novartis AG by 9.5% in the first quarter. Cardinal Capital Management Inc. now owns 71,469 shares of the company’s stock valued at $5,308,000 after buying an additional 6,199 shares in the last quarter. Finally, Trust Co increased its stake in shares of Novartis AG by 24.0% in the fourth quarter. Trust Co now owns 16,256 shares of the company’s stock valued at $1,184,000 after buying an additional 3,144 shares in the last quarter. 9.82% of the stock is currently owned by institutional investors and hedge funds.
Novartis AG (NYSE:NVS) traded down 0.03% on Monday, hitting $73.70. 164,234 shares of the stock were exchanged. The firm has a market cap of $174.97 billion, a PE ratio of 26.32 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $83.58. The stock’s 50 day moving average price is $75.53 and its 200 day moving average price is $74.26.
Novartis AG (NYSE:NVS) last announced its earnings results on Wednesday, January 25th. The company reported $1.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.12. Novartis AG had a net margin of 13.80% and a return on equity of 15.37%. The company had revenue of $12.32 billion for the quarter, compared to analysts’ expectations of $12.44 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Novartis AG will post $4.70 earnings per share for the current year.
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Several equities research analysts have recently weighed in on the stock. Vetr downgraded shares of Novartis AG from a “strong-buy” rating to a “buy” rating and set a $78.32 target price on the stock. in a research note on Thursday. Cowen and Company downgraded shares of Novartis AG from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $87.00 to $77.00 in a research note on Wednesday, April 5th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis AG in a research note on Thursday, March 23rd. Goldman Sachs Group Inc reissued a “neutral” rating on shares of Novartis AG in a research note on Wednesday, March 22nd. Finally, Liberum Capital assumed coverage on shares of Novartis AG in a research note on Thursday, March 9th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $83.12.
About Novartis AG
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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