Creative Planning increased its stake in Novartis AG (NYSE:NVS) by 124.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,067 shares of the company’s stock after buying an additional 35,547 shares during the period. Creative Planning’s holdings in Novartis AG were worth $5,059,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Novartis AG by 28.7% in the first quarter. Wellington Management Group LLP now owns 144,330 shares of the company’s stock valued at $10,455,000 after buying an additional 32,150 shares during the last quarter. Cullinan Associates Inc. raised its stake in shares of Novartis AG by 44.0% in the first quarter. Cullinan Associates Inc. now owns 3,600 shares of the company’s stock valued at $261,000 after buying an additional 1,100 shares during the last quarter. Iowa State Bank bought a new stake in shares of Novartis AG during the second quarter valued at about $122,000. Integrated Investment Consultants LLC raised 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 valued at $102,000 after buying an additional 74 shares during the last quarter. Finally, New England Research & Management Inc. bought a new stake in shares of Novartis AG during the second quarter valued at about $753,000. Institutional investors own 9.85% of the company’s stock.
Novartis AG (NYSE:NVS) traded up 1.12% during mid-day trading on Friday, hitting $69.58. 1,770,452 shares of the stock were exchanged. The stock has a market capitalization of $165.29 billion, a PE ratio of 24.53 and a beta of 0.71. Novartis AG has a 52 week low of $67.28 and a 52 week high of $88.49. The company has a 50-day moving average of $73.05 and a 200-day moving average of $78.41.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts predict that Novartis AG will post $4.72 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on NVS shares. Argus restated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a report on Tuesday, September 13th. Chardan Capital started coverage on shares of Novartis AG in a report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price objective for the company. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Finally, TheStreet downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Novartis AG has an average rating of “Hold” and a consensus 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.