Tweedy Browne Co. LLC reduced its position in Novartis AG (NYSE:NVS) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,422 shares of the company’s stock after selling 8,325 shares during the quarter. Tweedy Browne Co. LLC’s holdings in Novartis AG were worth $16,395,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NVS. CGOV Asset Management raised its holdings in shares of Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after acquiring an additional 24,430 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Novartis AG in the first quarter worth about $2,740,000. Boston Partners raised its holdings in Novartis AG by 3.1% in the first quarter. Boston Partners now owns 1,606,117 shares of the company’s stock worth $119,286,000 after purchasing an additional 48,465 shares in the last quarter. HPM Partners LLC raised its holdings in Novartis AG by 55.1% in the first quarter. HPM Partners LLC now owns 32,886 shares of the company’s stock worth $2,442,000 after purchasing an additional 11,689 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in Novartis AG by 16.3% in the first quarter. Checchi Capital Advisers LLC now owns 15,397 shares of the company’s stock worth $1,144,000 after purchasing an additional 2,158 shares in the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by insiders.

NVS has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 8th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Finally, Cowen and Company set a $77.00 price target on Novartis AG and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Novartis AG presently has an average rating of “Hold” and a consensus target price of $85.12.

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Shares of Novartis AG (NYSE NVS) traded up 1.44% on Friday, reaching $86.16. The company’s stock had a trading volume of 2,726,428 shares. The company has a market capitalization of $201.86 billion, a price-to-earnings ratio of 31.46 and a beta of 0.74. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The stock has a 50-day moving average price of $84.30 and a 200-day moving average price of $80.50.

Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.20 billion. During the same period last year, the business posted $1.23 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Novartis AG will post $4.75 EPS for the current year.

Novartis AG 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.

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

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