Abner Herrman & Brock LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,306 shares of the company’s stock after selling 24 shares during the period. Abner Herrman & Brock LLC’s holdings in Novartis AG were worth $261,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Integrated Investment Consultants LLC increased its stake in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $102,000 after buying an additional 74 shares during the period. Whitnell & Co. raised its stake in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 180 shares during the last quarter. Iowa State Bank acquired a new stake in Novartis AG during the second quarter worth about $122,000. M&R Capital Management Inc. acquired a new stake in Novartis AG during the second quarter worth about $122,000. Finally, WFG Advisors LP raised its stake in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 133 shares during the last quarter. 9.85% of the stock is owned by hedge funds and other institutional investors.
Novartis AG (NYSE:NVS) traded up 1.12% during trading on Friday, reaching $69.58. 1,770,452 shares of the company’s stock traded hands. The firm has a market cap of $165.29 billion, a PE ratio of 24.53 and a beta of 0.71. Novartis AG has a 12 month low of $67.28 and a 12 month high of $88.49. The firm has a 50 day moving average price of $73.46 and a 200-day moving average price of $78.44.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 25th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The firm earned $12.13 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Novartis AG will post $4.72 earnings per share for the current fiscal year.
NVS has been the subject of a number of research analyst reports. Argus restated a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Jefferies Group restated a “buy” rating on shares of Novartis AG in a report on Sunday, October 16th. TheStreet lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Chardan Capital initiated coverage on Novartis AG in a report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 target price for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a report on Friday, November 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $88.50.
About Novartis AG
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.
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis AG Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Novartis AG and related companies with MarketBeat.com’s FREE daily email newsletter.