Janney Montgomery Scott LLC lowered its position in Novartis AG (NYSE:NVS) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,829 shares of the company’s stock after selling 2,200 shares during the period. Janney Montgomery Scott LLC’s holdings in Novartis AG were worth $13,007,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Somerset Trust Co raised its stake in Novartis AG by 2.1% in the first quarter. Somerset Trust Co now owns 13,367 shares of the company’s stock worth $992,000 after buying an additional 278 shares in the last quarter. Jolley Asset Management LLC raised its stake in Novartis AG by 4.2% in the first quarter. Jolley Asset Management LLC now owns 47,424 shares of the company’s stock worth $3,522,000 after buying an additional 1,920 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Novartis AG by 4.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 45,520 shares of the company’s stock worth $3,381,000 after buying an additional 1,805 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in Novartis AG by 8.0% in the first quarter. Reilly Financial Advisors LLC now owns 14,564 shares of the company’s stock worth $1,082,000 after buying an additional 1,085 shares in the last quarter. Finally, Howland Capital Management LLC raised its stake in Novartis AG by 64.4% in the first quarter. Howland Capital Management LLC now owns 157,040 shares of the company’s stock worth $11,663,000 after buying an additional 61,517 shares in the last quarter. 11.16% of the stock is currently owned by institutional investors.

Novartis AG (NYSE:NVS) opened at 83.86 on Tuesday. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm has a 50-day moving average price of $84.10 and a 200-day moving average price of $78.88. The company has a market capitalization of $196.47 billion, a P/E ratio of 30.62 and a beta of 0.73.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm 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 company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. On average, analysts forecast that Novartis AG will post $4.73 EPS for the current fiscal year.

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A number of equities research analysts have recently commented on the company. Leerink Swann reaffirmed a “market perform” rating and set a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Cowen and Company set a $90.00 price target on Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Credit Suisse Group lowered Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a research report on Wednesday, July 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.56.

In related 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 cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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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