First Financial Bank Trust Division held its stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,394 shares of the company’s stock at the end of the second quarter. First Financial Bank Trust Division’s holdings in Novartis AG were worth $367,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. increased its stake in shares of Novartis AG by 168.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 317,697 shares of the company’s stock worth $23,595,000 after buying an additional 199,198 shares during the period. Fulton Bank N.A. increased its stake in shares of Novartis AG by 1.2% in the first quarter. Fulton Bank N.A. now owns 22,897 shares of the company’s stock worth $1,701,000 after buying an additional 272 shares during the period. Confluence Investment Management LLC increased its stake in shares of Novartis AG by 13.1% in the first quarter. Confluence Investment Management LLC now owns 144,940 shares of the company’s stock worth $10,765,000 after buying an additional 16,777 shares during the period. Catawba Capital Management VA increased its stake in shares of Novartis AG by 1.9% in the first quarter. Catawba Capital Management VA now owns 28,693 shares of the company’s stock worth $2,131,000 after buying an additional 541 shares during the period. Finally, Trust Co increased its stake in shares of Novartis AG by 24.0% in the fourth quarter. Trust Co now owns 16,256 shares of the company’s stock worth $1,184,000 after buying an additional 3,144 shares during the period. 11.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis AG (NYSE NVS) traded up 0.12% during trading on Friday, hitting $84.97. 990,062 shares of the stock were exchanged. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm’s 50-day moving average is $83.64 and its 200 day moving average is $78.07. The company has a market cap of $199.08 billion, a P/E ratio of 31.02 and a beta of 0.73.

Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The company 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%. Novartis AG’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. Equities analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.

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NVS has been the subject of a number of research reports. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, April 18th. Vetr downgraded shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target for the company. in a report on Tuesday, April 25th. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. UBS AG reissued a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. Finally, Morgan Stanley reissued a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $81.71.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.

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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