Ferguson Wellman Capital Management Inc. reduced its stake in shares of Novartis AG (NYSE:NVS) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,491 shares of the company’s stock after selling 340 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Novartis AG were worth $625,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Howland Capital Management LLC boosted its position in Novartis AG by 64.4% in the first quarter. Howland Capital Management LLC now owns 157,040 shares of the company’s stock valued at $11,663,000 after buying an additional 61,517 shares during the period. Howe & Rusling Inc. boosted its position in 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 during the period. CGOV Asset Management boosted its position in Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after buying an additional 24,430 shares during the period. Pinnacle Bank acquired a new position in Novartis AG during the first quarter valued at approximately $279,000. Finally, Peoples Financial Services CORP. boosted its position in Novartis AG by 94.3% in the first quarter. Peoples Financial Services CORP. now owns 4,122 shares of the company’s stock valued at $306,000 after buying an additional 2,000 shares during the period. 11.27% of the stock is owned by institutional investors.

Novartis AG (NYSE:NVS) opened at 83.35 on Friday. The company has a market capitalization of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company’s 50-day moving average price is $84.17 and its 200 day moving average price is $78.68.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $12.20 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Novartis AG will post $4.73 EPS for the current year.

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Several equities analysts have recently commented on the company. UBS AG reiterated 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 Novartis AG and gave the company a “hold” rating in a research note on Wednesday. BidaskClub cut Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 8th. Finally, TheStreet upgraded 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 assigned a hold rating and six have issued a buy rating to the company. Novartis AG presently has an average rating of “Hold” and a consensus target price of $83.56.

In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

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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