As Novartis Ag (NVS) Stock Rose, Dodge & Cox Decreased Stake

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Dodge & Cox decreased its stake in Novartis Ag (NVS) by 1.23% based on its latest 2019Q1 regulatory filing with the SEC. Dodge & Cox sold 454,023 shares as the company’s stock rose 2.49% with the market. The institutional investor held 36.34 million shares of the major pharmaceuticals company at the end of 2019Q1, valued at $3.49 billion, down from 36.80M at the end of the previous reported quarter. Dodge & Cox who had been investing in Novartis Ag for a number of months, seems to be less bullish one the $202.80 billion market cap company. The stock decreased 2.38% or $2.15 during the last trading session, reaching $88.19. About 3.65M shares traded or 61.81% up from the average. Novartis AG (NYSE:NVS) has risen 16.23% since July 14, 2018 and is uptrending. It has outperformed by 11.80% the S&P500.

Dodge & Cox, which manages about $121.82B US Long portfolio, upped its stake in Jpmorgan Chase & Co (NYSE:JPM) by 134,367 shares to 24.94 million shares, valued at $2.52 billion in 2019Q1, according to the filing. It also increased its holding in Alibaba Group Holding Ltd (NYSE:BABA) by 280,000 shares in the quarter, for a total of 2.75 million shares, and has risen its stake in Wells Fargo & Co (NYSE:WFC).

Analysts await Novartis AG (NYSE:NVS) to report earnings on July, 17. They expect $1.20 earnings per share, down 4.76 % or $0.06 from last year’s $1.26 per share. NVS’s profit will be $2.76B for 18.37 P/E if the $1.20 EPS becomes a reality. After $1.20 actual earnings per share reported by Novartis AG for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

More notable recent Novartis AG (NYSE:NVS) news were published by: Fool.com which released: “Oh, By the Way, This Clinical Trial Didn’t Work – The Motley Fool” on June 21, 2019, also Finance.Yahoo.com with their article: “The Daily Biotech Pulse: FDA Approves Karyopharm’s Blood Cancer Treatment, Grifols’ Immunodeficiency Drug; ESMO, ISTH Conferences In The Spotlight – Yahoo Finance” published on July 05, 2019, Seekingalpha.com published: “Mirati teams up with Novartis on doublet cancer therapy – Seeking Alpha” on July 09, 2019. More interesting news about Novartis AG (NYSE:NVS) were released by: Nasdaq.com and their article: “These 3 Small Biotech Stocks Are Perfect Takeover Targets – Nasdaq” published on July 03, 2019 as well as Investorplace.com‘s news article titled: “This Rally in Tilray Stock Will Not Last Much Longer – Investorplace.com” with publication date: June 26, 2019.

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