Texan Capital Management Has $3.13 Million Position in Novartis AG (NYSE:NVS)
Texan Capital Management increased its stake in shares of Novartis AG (NYSE:NVS) by 74.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,480 shares of the company’s stock after buying an additional 15,981 shares during the period. Novartis AG makes up about 2.1% of Texan Capital Management’s investment portfolio, making the stock its 12th largest position. Texan Capital Management’s holdings in Novartis AG were worth $3,128,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. City Holding Co. boosted its stake in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock valued at $100,000 after buying an additional 882 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC boosted its stake in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after buying an additional 49 shares during the last quarter. Institutional investors own 11.27% of the company’s stock.
Novartis AG (NYSE NVS) traded down 0.11% during trading on Wednesday, reaching $84.07. The company had a trading volume of 950,441 shares. The company has a market capitalization of $196.97 billion, a P/E ratio of 30.69 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The firm’s 50 day moving average is $83.98 and its 200-day moving average is $78.22.
Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts expect that Novartis AG will post $4.75 earnings per share for the current year.
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A number of equities analysts have recently weighed in on the company. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 8th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Finally, TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Novartis AG presently has a consensus rating of “Hold” and an average target price of $81.71.
In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by insiders.
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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