Guardian Capital LP decreased its position in shares of Novartis AG (NYSE:NVS) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,233 shares of the company’s stock after selling 396 shares during the quarter. Guardian Capital LP’s holdings in Novartis AG were worth $7,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its position in shares of Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after buying an additional 285 shares in the last quarter. GFS Advisors LLC grew its position in shares of Novartis AG by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after buying an additional 1,300 shares in the last quarter. Mechanics Bank Trust Department bought a new position in shares of Novartis AG during the 2nd quarter worth $389,000. ProVise Management Group LLC grew its position in shares of Novartis AG by 12.2% during the 2nd quarter. ProVise Management Group LLC now owns 85,041 shares of the company’s stock worth $7,099,000 after buying an additional 9,227 shares in the last quarter. Finally, Union Bankshares Corp grew its position in shares of Novartis AG by 0.3% during the 2nd quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after buying an additional 99 shares in the last quarter. 10.93% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Novartis AG (NYSE NVS) traded up 1.30% on Friday, reaching $85.85. The company had a trading volume of 1,778,684 shares. The firm has a market capitalization of $201.14 billion, a P/E ratio of 31.34 and a beta of 0.74. The company’s 50-day moving average price is $84.30 and its 200 day moving average price is $80.50. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.

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

A number of equities analysts have recently issued reports on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, August 29th. Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research report on Wednesday, July 5th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $85.12.

In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was bought at an average cost of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by company insiders.

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.

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

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