Private Wealth Partners LLC Cuts Stake in Novartis AG (NVS)
Private Wealth Partners LLC decreased its stake in Novartis AG (NYSE:NVS) by 53.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,115 shares of the company’s stock after selling 57,135 shares during the period. Private Wealth Partners LLC’s holdings in Novartis AG were worth $4,135,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Novartis AG during the first quarter valued at $1,234,000. Pacad Investment Ltd. purchased a new stake in shares of Novartis AG during the first quarter valued at $261,000. AR Asset Management Inc. boosted its stake in shares of Novartis AG by 138.6% in the first quarter. AR Asset Management Inc. now owns 17,300 shares of the company’s stock valued at $1,253,000 after buying an additional 10,050 shares in the last quarter. Ngam Advisors L.P. boosted its stake in shares of Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock valued at $56,255,000 after buying an additional 200,917 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Novartis AG by 79.3% in the first quarter. Stratos Wealth Partners LTD. now owns 24,728 shares of the company’s stock valued at $1,791,000 after buying an additional 10,939 shares in the last quarter. 9.78% of the stock is currently owned by hedge funds and other institutional investors.
Novartis AG (NYSE:NVS) traded up 0.05% during midday trading on Monday, reaching $79.00. 1,162,587 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $80.36 and its 200 day moving average price is $78.69. The firm has a market cap of $188.12 billion, a price-to-earnings ratio of 28.20 and a beta of 0.57. Novartis AG has a 1-year low of $69.90 and a 1-year high of $95.11.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. The company earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same period in the previous year, the company earned $1.25 EPS. Equities research analysts anticipate that Novartis AG will post $4.72 EPS for the current year.
NVS has been the topic of several research analyst reports. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. TheStreet raised shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Wednesday, July 13th. Finally, Argus reissued a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $91.83.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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