Novartis AG (NVS) Shares Sold by Community Bank N.A.
Community Bank N.A. lowered its position in Novartis AG (NYSE:NVS) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 33,356 shares of the company’s stock after selling 1,649 shares during the period. Community Bank N.A.’s holdings in Novartis AG were worth $2,634,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC increased its stake in Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $102,000 after buying an additional 74 shares in the last quarter. Whitnell & Co. increased its stake in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 180 shares in the last quarter. Iowa State Bank bought a new stake in Novartis AG during the second quarter worth approximately $122,000. M&R Capital Management Inc. bought a new stake in Novartis AG during the second quarter worth approximately $122,000. Finally, WFG Advisors LP increased its stake in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 133 shares in the last quarter. 9.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE:NVS) traded down 0.29% during trading on Wednesday, reaching $68.76. 2,189,769 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $72.53 and its 200 day moving average price is $78.37. Novartis AG has a 52 week low of $67.28 and a 52 week high of $88.49. The firm has a market capitalization of $163.34 billion, a PE ratio of 24.25 and a beta of 0.71.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the company earned $1.27 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that Novartis AG will post $4.72 EPS for the current fiscal year.
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A number of research firms recently commented on NVS. TheStreet downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Societe Generale reissued a “hold” rating on shares of Novartis AG in a report on Thursday, October 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a report on Monday, October 10th. Argus reissued a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Finally, Chardan Capital initiated coverage on shares of Novartis AG in a report on Tuesday, September 20th. They set a “buy” rating and a $95.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.50.
About Novartis AG
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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