Investment Centers of America Inc. Has $692,000 Stake in Novartis AG (NVS)
Investment Centers of America Inc. lifted its stake in shares of Novartis AG (NYSE:NVS) by 16.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,067 shares of the company’s stock after purchasing an additional 1,160 shares during the quarter. Investment Centers of America Inc.’s holdings in Novartis were worth $692,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments CA grew its holdings in shares of Novartis by 18.5% during the 3rd quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after purchasing an additional 1,477,168 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Novartis by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock worth $569,442,000 after purchasing an additional 127,049 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Novartis by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock valued at $420,390,000 after buying an additional 151,115 shares in the last quarter. BlackRock Inc. boosted its stake in Novartis by 25.3% in the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after buying an additional 717,186 shares in the last quarter. Finally, State Street Corp boosted its stake in Novartis by 2.3% in the second quarter. State Street Corp now owns 3,046,276 shares of the company’s stock valued at $254,273,000 after buying an additional 68,834 shares in the last quarter. 10.87% of the stock is currently owned by institutional investors.
NVS has been the topic of several research analyst reports. BidaskClub raised Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen set a $90.00 price objective on Novartis and gave the company a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, August 29th. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, September 19th. Finally, Leerink Swann raised their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Novartis has an average rating of “Hold” and a consensus target price of $85.32.
Shares of Novartis AG (NYSE NVS) traded up $0.25 during mid-day trading on Friday, hitting $86.05. The stock had a trading volume of 1,178,747 shares, compared to its average volume of 2,291,198. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The firm has a market capitalization of $224,480.00, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same period last year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts forecast that Novartis AG will post 4.75 EPS for the current 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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