Farmers National Bank trimmed its position in Novartis AG (NYSE:NVS) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,435 shares of the company’s stock after selling 539 shares during the quarter. Farmers National Bank’s holdings in Novartis AG were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Primecap Management Co. CA grew its holdings in Novartis AG by 2.1% in the 1st quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares in the last quarter. Bank of America Corp DE grew its holdings in Novartis AG by 7.5% in the 1st quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Novartis AG by 6.3% in the 2nd quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Novartis AG by 0.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 6,241,239 shares of the company’s stock valued at $463,537,000 after buying an additional 41,762 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Novartis AG by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock valued at $420,390,000 after buying an additional 151,115 shares in the last quarter. 10.92% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the company. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Cowen and Company set a $90.00 target price on Novartis AG and gave the stock a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, October 10th. Finally, Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Novartis AG presently has an average rating of “Hold” and an average price target of $84.13.

Novartis AG (NVS) traded up 0.16% during mid-day trading on Friday, reaching $86.13. The company had a trading volume of 846,361 shares. The stock has a market capitalization of $225.39 billion, a P/E ratio of 30.54 and a beta of 0.73. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The stock has a 50 day moving average price of $85.27 and a 200-day moving average price of $81.85.

Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Novartis AG will post $4.75 EPS for the current fiscal year.

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About Novartis AG

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.

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

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