Stonebridge Capital Management Inc. boosted its stake in Novartis AG (NYSE:NVS) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,585 shares of the company’s stock after buying an additional 4,850 shares during the period. Novartis AG accounts for 1.7% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 19th largest position. Stonebridge Capital Management Inc.’s holdings in Novartis AG were worth $4,556,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVS. Primecap Management Co. CA increased its position in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 during the period. Parnassus Investments CA increased its position in shares of 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 during the period. Bank of America Corp DE increased its position in shares of Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares during the period. Hedge funds and other institutional investors own 11.16% of the company’s stock.

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

Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 13.52% and a return on equity of 15.51%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. On average, equities analysts forecast that Novartis AG will post $4.73 earnings per share for the current year.

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Several research analysts recently commented on NVS shares. Vetr downgraded shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price on the stock. in a report on Tuesday, April 25th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 22nd. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Finally, UBS AG reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $83.56.

In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

Novartis AG Company Profile

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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