Canandaigua National Bank & Trust Co. decreased its position in shares of Novartis AG (NYSE:NVS) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 3,647 shares of the company’s stock after selling 17 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Novartis AG were worth $301,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. boosted its position in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock worth $869,189,000 after buying an additional 2,195,618 shares during the period. Douglas Lane & Associates LLC bought a new stake in shares of Novartis AG during the first quarter valued at approximately $36,474,000. Loomis Sayles & Co. L P boosted its stake in shares of Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock valued at $379,800,000 after buying an additional 408,972 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. bought a new stake in shares of Novartis AG during the second quarter valued at approximately $26,632,000. Finally, Ngam Advisors L.P. boosted its stake in shares of Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock valued at $56,255,000 after buying an additional 200,917 shares during the last quarter. 9.78% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis AG (NYSE:NVS) traded up 0.57% during trading on Wednesday, reaching $81.52. 1,308,189 shares of the company traded hands. The stock has a market capitalization of $194.12 billion, a PE ratio of 29.10 and a beta of 0.58. The firm has a 50 day moving average of $80.76 and a 200 day moving average of $78.35. Novartis AG has a 52 week low of $69.90 and a 52 week high of $95.11.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter last year, the business earned $1.25 earnings per share. On average, equities analysts predict that Novartis AG will post $4.72 EPS for the current year.

Several analysts have commented on NVS shares. Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Zacks Investment Research cut shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. Chardan Capital started coverage on shares of Novartis AG in a research note on Tuesday. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Novartis AG currently has a consensus rating of “Hold” and a consensus price target of $91.83.

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.

5 Day Chart for NYSE:NVS

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