Verity & Verity LLC Purchases New Holdings in Novartis AG $NVS
Verity & Verity LLC acquired 3,778 shares of Novartis AG, valued at approximately $457,000, during the 2nd quarter. Other institutional investors also adjusted their positions in Novartis. The company's stock opened at $129.67, with a market cap of $273.92 billion. Analysts have mixed ratings on Novartis, with a consensus rating of 'Hold' and an average price target of $122.33. Novartis focuses on healthcare products, including prescription medicines in various therapeutic areas.
Verity & Verity LLC acquired a new position in shares of Novartis AG (NYSE:NVS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,778 shares of the company's stock, valued at approximately $457,000.
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A number of other institutional investors also recently made changes to their positions in NVS. Keybank National Association OH increased its stake in Novartis by 13.2% during the second quarter. Keybank National Association OH now owns 49,377 shares of the company's stock valued at $5,975,000 after purchasing an additional 5,742 shares during the last quarter. Sonora Investment Management Group LLC bought a new position in shares of Novartis in the 2nd quarter worth about $266,000. Cypress Capital Group boosted its holdings in shares of Novartis by 84.1% in the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company's stock valued at $699,000 after buying an additional 2,638 shares during the period. Focus Partners Wealth grew its position in shares of Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company's stock valued at $5,311,000 after buying an additional 6,849 shares during the last quarter. Finally, Marshall Financial Group LLC bought a new stake in shares of Novartis during the 2nd quarter valued at about $1,909,000. 13.12% of the stock is owned by institutional investors and hedge funds.
Novartis Price Performance
Shares of NYSE:NVS opened at $129.67 on Tuesday. The stock has a market cap of $273.92 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.93 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 12 month low of $96.06 and a 12 month high of $134.00. The stock's 50 day moving average price is $127.70 and its 200 day moving average price is $122.09.
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Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). The firm had revenue of $13.91 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.06 earnings per share. Equities research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently issued reports on NVS. Cfra set a $126.00 price target on Novartis and gave the stock a "hold" rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group reaffirmed a "sell" rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Cfra Research raised Novartis to a "hold" rating in a report on Wednesday, October 29th. Finally, Wall Street Zen cut Novartis from a "strong-buy" rating to a "hold" rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Novartis currently has a consensus rating of "Hold" and an average price target of $122.33.
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View Our Latest Research Report on Novartis
Novartis Profile
(Free Report)Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.
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