Valley National Advisers Inc. lowered its stake in Novartis AG (NYSE:NVS) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,459 shares of the company’s stock after selling 2,904 shares during the period. Novartis AG accounts for approximately 1.0% of Valley National Advisers Inc.’s holdings, making the stock its 19th largest position. Valley National Advisers Inc.’s holdings in Novartis AG were worth $2,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. City Holding Co. raised its position in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC raised its position in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after buying an additional 49 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock valued at $113,000 after buying an additional 511 shares in the last quarter. 10.97% of the stock is owned by institutional investors and hedge funds.

Shares of Novartis AG (NYSE NVS) opened at 84.29 on Friday. The stock has a 50 day moving average price of $84.07 and a 200 day moving average price of $79.70. The firm has a market capitalization of $197.48 billion, a P/E ratio of 30.77 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating 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 net margin of 13.52% and a return on equity of 15.51%. 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 firm posted $1.23 earnings per share. Analysts forecast that Novartis AG will post $4.74 EPS for the current year.

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Several research analysts recently issued reports on the company. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. BidaskClub downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, August 11th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 8th. Cowen and Company set a $90.00 price target on Novartis AG and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $83.56.

In other 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 is available at 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.

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

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