Novartis AG (NYSE:NVS) Stake Raised by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its stake in shares of Novartis AG (NYSE:NVS) by 489.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,159 shares of the company’s stock after buying an additional 1,793 shares during the period. Tower Research Capital LLC TRC’s holdings in Novartis AG were worth $160,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Howe & Rusling Inc. increased its position 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 valued at $100,000 after buying an additional 882 shares in the last quarter. TCI Wealth Advisors Inc. increased its position 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 in the last quarter. Archford Capital Strategies LLC increased its position 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 in the last quarter. Kernodle & Katon Asset Management Group LLC increased its position 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 in the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock worth $113,000 after buying an additional 511 shares in the last quarter. 11.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis AG (NYSE:NVS) opened at 83.35 on Friday. The stock’s 50 day moving average is $84.17 and its 200 day moving average is $78.68. The firm has a market cap of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) 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 firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. Analysts forecast that Novartis AG will post $4.73 EPS for the current fiscal year.

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A number of brokerages have weighed in on NVS. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. Cowen and Company set a $90.00 target price on shares of Novartis AG and gave the stock a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 8th. Finally, TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Novartis AG presently has a consensus rating of “Hold” and an average price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Novartis AG Company Profile

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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