Nationwide Fund Advisors reduced its stake in Novartis AG (NYSE:NVS) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,600 shares of the company’s stock after selling 4,000 shares during the period. Nationwide Fund Advisors’ holdings in Novartis AG were worth $4,423,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock valued at $869,189,000 after buying an additional 2,195,618 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock valued at $379,800,000 after buying an additional 408,972 shares during the period. Woodley Farra Manion Portfolio Management Inc. bought a new position in shares of Novartis AG during the second quarter valued at approximately $26,632,000. Cambiar Investors LLC raised its position in shares of Novartis AG by 12.1% in the second quarter. Cambiar Investors LLC now owns 2,117,314 shares of the company’s stock valued at $174,700,000 after buying an additional 229,198 shares during the period. Finally, Ngam Advisors L.P. raised its position in shares of Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock valued at $56,255,000 after buying an additional 200,917 shares during the period. Institutional investors and hedge funds own 9.78% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded down 0.37% during mid-day trading on Friday, hitting $78.96. 3,635,597 shares of the stock were exchanged. The stock has a market cap of $188.02 billion, a PE ratio of 28.19 and a beta of 0.58. The stock’s 50 day moving average is $80.36 and its 200-day moving average is $78.69. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The business earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. During the same period last year, the company earned $1.25 earnings per share. On average, analysts anticipate that Novartis AG will post $4.72 EPS for the current year.
Several research analysts have commented on NVS shares. Zacks Investment Research lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research report on Tuesday, July 19th. TheStreet raised shares of Novartis AG from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Chardan Capital assumed coverage on shares of Novartis AG in a research report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $91.83.
Novartis AG Company Profile
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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