Gluskin Sheff & Assoc Inc. boosted its stake in Novartis AG (NYSE:NVS) by 103.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,370 shares of the company’s stock after purchasing an additional 130,200 shares during the period. Novartis AG makes up about 2.0% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 21st biggest holding. Gluskin Sheff & Assoc Inc.’s holdings in Novartis AG were worth $21,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. increased its holdings in Novartis AG by 4.6% in the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after purchasing an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in Novartis AG by 20.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after purchasing an additional 230 shares in the last quarter. Archford Capital Strategies LLC increased its holdings in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after purchasing an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its holdings in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Novartis AG by 1.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.

In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.01% of the company’s stock.

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Shares of Novartis AG (NVS) traded up 0.274% during trading on Wednesday, hitting $86.085. 747,130 shares of the stock traded hands. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The company has a market cap of $201.69 billion, a PE ratio of 31.429 and a beta of 0.74. The firm has a 50 day moving average price of $84.30 and a 200-day moving average price of $80.50.

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

Several brokerages recently issued reports on NVS. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Cowen and Company set a $90.00 price target on Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.12.

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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