First National Bank of Omaha cut its position in shares of Novartis AG (NYSE:NVS) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 95,249 shares of the company’s stock after selling 2,186 shares during the period. First National Bank of Omaha’s holdings in Novartis AG were worth $7,950,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. City Holding Co. raised its position in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares in the last quarter. Howe & Rusling Inc. increased 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 worth $100,000 after buying an additional 882 shares during the last quarter. TCI Wealth Advisors Inc. increased 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 worth $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC increased 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 worth $110,000 after buying an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased 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 worth $111,000 after buying an additional 49 shares during the last quarter. Institutional investors own 11.30% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) opened at 84.99 on Monday. The firm has a 50-day moving average price of $82.88 and a 200-day moving average price of $77.36. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The stock has a market capitalization of $199.12 billion, a P/E ratio of 31.03 and a beta of 0.73.
Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. On average, analysts predict that Novartis AG will post $4.74 EPS for the current year.
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A number of analysts recently commented on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Morgan Stanley reaffirmed a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th. TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Finally, Cowen and Company set a $77.00 price target on Novartis AG and gave the company a “hold” rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $81.71.
In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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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