BB&T Securities LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 694,786 shares of the company’s stock after buying an additional 104,113 shares during the period. Novartis AG accounts for approximately 0.7% of BB&T Securities LLC’s portfolio, making the stock its 26th largest position. BB&T Securities LLC’s holdings in Novartis AG were worth $51,601,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Allianz Asset Management AG increased its position in shares of Novartis AG by 0.9% in the fourth quarter. Allianz Asset Management AG now owns 39,568 shares of the company’s stock worth $2,882,000 after buying an additional 335 shares in the last quarter. Arbor Wealth Management LLC increased its position in shares of Novartis AG by 4.7% in the fourth quarter. Arbor Wealth Management LLC now owns 19,406 shares of the company’s stock worth $1,463,000 after buying an additional 863 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Novartis AG by 33.4% in the fourth quarter. William Blair Investment Management LLC now owns 38,353 shares of the company’s stock worth $2,794,000 after buying an additional 9,602 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Novartis AG by 16.4% in the fourth quarter. Franklin Resources Inc. now owns 14,753,570 shares of the company’s stock worth $1,074,650,000 after buying an additional 2,074,452 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Novartis AG by 18.2% in the fourth quarter. Fiera Capital Corp now owns 321,032 shares of the company’s stock worth $23,384,000 after buying an additional 49,449 shares in the last quarter. 11.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE:NVS) traded down 0.26% on Friday, reaching $84.75. 1,278,927 shares of the company were exchanged. The company’s 50-day moving average price is $83.39 and its 200 day moving average price is $77.82. The company has a market cap of $198.56 billion, a price-to-earnings ratio of 30.94 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. During the same quarter last year, the business earned $1.23 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Novartis AG will post $4.78 EPS for the current year.
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A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed a “sell” rating on shares of Novartis AG in a research note on Tuesday, June 6th. Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a research note on Thursday, June 22nd. Vetr downgraded shares of Novartis AG from a “strong-buy” rating to a “buy” rating and set a $78.32 target price for the company. in a research note on Thursday, April 6th. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. Finally, UBS AG reiterated a “neutral” rating on shares of Novartis AG in a research report on Wednesday, May 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Novartis AG has an average rating of “Hold” and a consensus price target 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, for a total transaction of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by company insiders.
Novartis AG 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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