Veritable L.P. lessened its holdings in shares of Novartis AG (NYSE:NVS) by 10.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,106 shares of the company’s stock after selling 924 shares during the quarter. Veritable L.P.’s holdings in Novartis AG were worth $677,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. boosted its position in Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after acquiring an additional 285 shares during the period. GFS Advisors LLC boosted its position in Novartis AG by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,300 shares during the period. Mechanics Bank Trust Department acquired a new position in Novartis AG during the 2nd quarter worth $389,000. ProVise Management Group LLC boosted its position in Novartis AG by 12.2% during the 2nd quarter. ProVise Management Group LLC now owns 85,041 shares of the company’s stock worth $7,099,000 after acquiring an additional 9,227 shares during the period. Finally, Union Bankshares Corp boosted its position in Novartis AG by 0.3% during the 2nd quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after acquiring an additional 99 shares during the period. Institutional investors own 10.93% of the company’s stock.

A number of research analysts have issued reports on the company. Leerink Swann reiterated a “market perform” rating and set a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 26th. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Two investment 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $85.12.

In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by company insiders.

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Shares of Novartis AG (NVS) opened at 85.85 on Friday. 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. The company has a market cap of $201.14 billion, a P/E ratio of 31.34 and a beta of 0.74.

Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. Analysts predict that Novartis AG will post $4.75 earnings per share for the current fiscal year.

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.

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

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