Novartis AG (NYSE:NVS) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its holdings in Novartis AG (NYSE:NVS) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,571 shares of the company’s stock after acquiring an additional 231 shares during the period. Greenleaf Trust’s holdings in Novartis were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NVS. Lazard Asset Management LLC grew its stake in Novartis by 407.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,525,897 shares of the company’s stock valued at $242,839,000 after acquiring an additional 2,028,045 shares during the last quarter. FMR LLC grew its stake in Novartis by 23.7% in the 1st quarter. FMR LLC now owns 8,678,552 shares of the company’s stock valued at $834,356,000 after acquiring an additional 1,662,505 shares during the last quarter. Primecap Management Co. CA grew its stake in Novartis by 4.2% in the 1st quarter. Primecap Management Co. CA now owns 23,857,216 shares of the company’s stock valued at $2,293,633,000 after acquiring an additional 969,985 shares during the last quarter. Mawer Investment Management Ltd. grew its stake in Novartis by 19.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 5,680,653 shares of the company’s stock valued at $546,138,000 after acquiring an additional 916,167 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Novartis by 52.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,255,428 shares of the company’s stock valued at $120,697,000 after acquiring an additional 430,876 shares during the last quarter. 11.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on NVS shares. Zacks Investment Research cut shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, July 19th. Morgan Stanley cut shares of Novartis from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Kepler Capital Markets cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a research note on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Novartis presently has an average rating of “Hold” and a consensus target price of $90.63.

NYSE:NVS opened at $92.18 on Friday. The stock has a market cap of $211.79 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The company has a 50-day moving average price of $91.51. Novartis AG has a 12-month low of $71.33 and a 12-month high of $95.00.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. As a group, equities analysts predict that Novartis AG will post 5.06 earnings per share for the current year.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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