Assetmark Inc. reduced its position in Novartis AG (NYSE:NVS) by 20.0% during the third quarter, Holdings Channel reports. The institutional investor owned 78,691 shares of the company’s stock after selling 19,622 shares during the period. Assetmark Inc.’s holdings in Novartis AG were worth $6,213,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dearborn Partners LLC increased its position in shares of Novartis AG by 3.1% in the second quarter. Dearborn Partners LLC now owns 342,484 shares of the company’s stock worth $28,258,000 after buying an additional 10,427 shares in the last quarter. Compass Capital Management Inc. increased its position in shares of Novartis AG by 15.3% in the second quarter. Compass Capital Management Inc. now owns 247,197 shares of the company’s stock worth $20,396,000 after buying an additional 32,845 shares in the last quarter. Bartlett & Co. LLC increased its position in shares of Novartis AG by 1.2% in the second quarter. Bartlett & Co. LLC now owns 446,714 shares of the company’s stock worth $36,858,000 after buying an additional 5,270 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Novartis AG by 30.9% in the second quarter. 1832 Asset Management L.P. now owns 447,065 shares of the company’s stock worth $37,083,000 after buying an additional 105,524 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY increased its position in shares of Novartis AG by 10.4% in the third quarter. Bristol John W & Co. Inc. NY now owns 868,278 shares of the company’s stock worth $68,559,000 after buying an additional 81,730 shares in the last quarter. Institutional investors and hedge funds own 9.86% of the company’s stock.

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

Novartis AG (NYSE:NVS) traded down 0.1031% on Wednesday, hitting $68.8889. 1,865,031 shares of the company’s stock were exchanged. The company has a market cap of $163.65 billion, a PE ratio of 24.2909 and a beta of 0.71. The company’s 50-day moving average price is $72.79 and its 200-day moving average price is $78.41. Novartis AG has a 12-month low of $67.28 and a 12-month high of $88.49.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 EPS. Analysts forecast that Novartis AG will post $4.72 earnings per share for the current year.

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A number of research firms have recently issued reports on NVS. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research note on Tuesday, September 13th. Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Societe Generale reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, October 27th. Finally, Chardan Capital dropped their price objective on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Novartis AG has a consensus rating of “Hold” and an average target price of $88.50.

Novartis AG Company Profile

Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.

5 Day Chart for NYSE:NVS

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