Cascade Investment Advisors Inc. reduced its position in shares of Novartis AG (NYSE:NVS) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 25,510 shares of the company’s stock after selling 145 shares during the period. Novartis AG makes up 1.8% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 5th largest position. Cascade Investment Advisors Inc.’s holdings in Novartis AG were worth $2,129,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Howe & Rusling Inc. increased its stake in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares in the last quarter. City Holding Co. increased its stake 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 worth $102,000 after buying an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake 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 worth $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC increased its stake 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 worth $110,000 after buying an additional 621 shares in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its stake 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 worth $111,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 11.27% of the company’s stock.

Shares of Novartis AG (NYSE:NVS) traded down 0.71% during trading on Thursday, hitting $83.58. 566,697 shares of the stock traded hands. The firm has a market cap of $195.82 billion, a P/E ratio of 30.51 and a beta of 0.73. The company has a 50-day moving average of $84.23 and a 200-day moving average of $78.55. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. On average, analysts forecast that Novartis AG will post $4.73 EPS for the current fiscal year.

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A number of analysts recently weighed in on the stock. Leerink Swann reiterated a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. Morgan Stanley restated a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. UBS AG restated a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.01% of the stock is currently owned by corporate insiders.

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.

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

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