Alexandria Capital LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 17,955.0% during the 4th quarter, Holdings Channel reports. The firm owned 28,888 shares of the company’s stock after purchasing an additional 28,728 shares during the period. Alexandria Capital LLC’s holdings in Novartis were worth $2,425,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Novartis during the third quarter worth $106,000. Cable Hill Partners LLC grew its holdings in shares of Novartis by 588.8% during the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after purchasing an additional 1,107 shares during the last quarter. Calton & Associates Inc. bought a new stake in shares of Novartis during the fourth quarter worth $118,000. SeaCrest Wealth Management LLC bought a new stake in shares of Novartis during the fourth quarter worth $124,000. Finally, Trustcore Financial Services LLC bought a new stake in shares of Novartis during the fourth quarter worth $178,000. Institutional investors own 10.96% of the company’s stock.
Several brokerages have recently commented on NVS. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a report on Thursday, January 18th. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Bank of America cut Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Novartis currently has a consensus rating of “Hold” and an average price target of $85.32.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion for the quarter, compared to analysts’ expectations of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. equities analysts forecast that Novartis AG will post 5.36 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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