Cypress Asset Management Inc. TX decreased its stake in Novartis AG (NYSE:NVS) by 10.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,034 shares of the company’s stock after selling 2,545 shares during the period. Cypress Asset Management Inc. TX’s holdings in Novartis AG were worth $1,636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dodge & Cox bought a new position in Novartis AG during the fourth quarter worth approximately $3,330,137,000. AT Bancorp boosted its position in Novartis AG by 4.2% in the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock worth $868,000 after buying an additional 470 shares during the last quarter. PagnatoKarp Partners LLC acquired a new position in Novartis AG during the fourth quarter worth about $1,343,000. Physicians Financial Services Inc. boosted its position in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock worth $1,232,000 after buying an additional 1,700 shares during the last quarter. Finally, Searle & CO. acquired a new position in Novartis AG during the fourth quarter worth about $590,000. 11.28% of the stock is owned by hedge funds and other institutional investors.

Novartis AG (NVS) traded up 0.12% during mid-day trading on Friday, reaching $84.97. The company had a trading volume of 990,062 shares. The firm has a 50-day moving average of $83.64 and a 200 day moving average of $78.07. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The company has a market capitalization of $199.08 billion, a PE ratio of 31.02 and a beta of 0.73.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $12.24 billion during 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 revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, analysts predict that Novartis AG will post $4.75 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on the company. Morgan Stanley reiterated a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Leerink Swann reiterated a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a report on Thursday, June 22nd. Vetr cut Novartis AG from a “strong-buy” rating to a “buy” rating and set a $78.32 price objective on the stock. in a research note on Thursday, April 6th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. Finally, UBS AG restated a “neutral” rating on shares of Novartis AG in a research note on Wednesday, May 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $81.71.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through 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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