Point View Wealth Management Inc. reduced its stake in Novartis AG (NYSE:NVS) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,639 shares of the company’s stock after selling 204 shares during the period. Point View Wealth Management Inc.’s holdings in Novartis AG were worth $603,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of NVS. Integrated Investment Consultants LLC raised its position in 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 in the last quarter. Whitnell & Co. raised its position in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares in the last quarter. Iowa State Bank bought a new position in Novartis AG during the second quarter valued at about $122,000. M&R Capital Management Inc. bought a new position in Novartis AG during the second quarter valued at about $122,000. Finally, WFG Advisors LP raised its position in Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares in the last quarter. 9.86% of the stock is owned by hedge funds and other institutional investors.
Novartis AG (NYSE:NVS) traded down 0.45% during midday trading on Monday, hitting $69.27. The company’s stock had a trading volume of 1,535,303 shares. The company has a market cap of $164.55 billion, a price-to-earnings ratio of 24.43 and a beta of 0.71. The company’s 50-day moving average is $73.05 and its 200 day moving average is $78.41. Novartis AG has a one year low of $67.28 and a one year high of $88.49.
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, topping analysts’ consensus estimates of $1.19 by $0.04. The firm earned $12.13 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Novartis AG had a return on equity of 15.25% and a net margin of 13.98%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. On average, analysts predict that Novartis AG will post $4.72 EPS for the current year.
Several research firms have recently issued reports on NVS. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Societe Generale reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, October 27th. Argus upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Thursday, November 10th. Chardan Capital reduced their price objective on Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, October 10th. Finally, Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $88.50.
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.