Kidder Stephen W cut its stake in shares of Novartis AG (NYSE:NVS) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 89,148 shares of the company’s stock after selling 39 shares during the period. Novartis AG accounts for approximately 2.8% of Kidder Stephen W’s holdings, making the stock its 13th largest position. Kidder Stephen W’s holdings in Novartis AG were worth $7,440,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. First PREMIER Bank boosted its stake in shares of Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock valued at $166,000 after buying an additional 52 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Novartis AG by 7.6% in the first quarter. Capstone Asset Management Co. now owns 128,300 shares of the company’s stock valued at $9,529,000 after buying an additional 9,010 shares during the last quarter. TNB Financial bought a new stake in shares of Novartis AG during the first quarter valued at about $6,982,000. Hall Laurie J Trustee boosted its stake in shares of Novartis AG by 2.8% in the first quarter. Hall Laurie J Trustee now owns 16,663 shares of the company’s stock valued at $1,229,000 after buying an additional 450 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. boosted its stake in shares of Novartis AG by 2.4% in the first quarter. Prentiss Smith & Co. Inc. now owns 136,441 shares of the company’s stock valued at $10,133,000 after buying an additional 3,239 shares during the last quarter. Institutional investors own 11.27% of the company’s stock.

Novartis AG (NYSE:NVS) opened at 83.35 on Friday. The stock has a market capitalization of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73. The stock’s 50 day moving average price is $84.17 and its 200-day moving average price is $78.68. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.

Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. Analysts expect that Novartis AG will post $4.73 earnings per share for the current year.

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Several analysts have issued reports on NVS shares. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, April 18th. Vetr cut Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price for the company. in a report on Tuesday, April 25th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. UBS AG restated a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. Finally, Morgan Stanley restated a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $83.56.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is owned by 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.

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

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