American Research & Management Co. decreased its stake in shares of Novartis AG (NYSE:NVS) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 58,399 shares of the company’s stock after selling 150 shares during the period. Novartis AG comprises about 1.6% of American Research & Management Co.’s investment portfolio, making the stock its 21st largest position. American Research & Management Co.’s holdings in Novartis AG were worth $4,875,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Parnassus Investments CA raised its stake in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after buying an additional 3,858,632 shares in the last quarter. BlackRock Inc. purchased a new stake in Novartis AG during the first quarter valued at $210,378,000. Janus Capital Management LLC raised its stake in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock valued at $130,696,000 after buying an additional 1,754,716 shares in the last quarter. Wells Fargo & Company MN raised its stake in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Novartis AG during the first quarter valued at $51,745,000. 11.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Novartis AG (NYSE NVS) opened at 84.10 on Wednesday. The firm has a 50-day moving average price of $84.05 and a 200 day moving average price of $78.96. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company has a market capitalization of $197.04 billion, a P/E ratio of 30.70 and a beta of 0.73.

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 the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. On average, equities research analysts predict that Novartis AG will post $4.73 earnings per share for the current year.

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Several equities research analysts recently weighed in on NVS shares. Vetr lowered Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research report on Tuesday, April 25th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Finally, UBS AG restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Four equities research 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 has an average rating of “Hold” and an average target price 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 purchased at an average price 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 through this link. 0.01% of the stock is 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.

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

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