Physicians Financial Services Inc. reduced its stake in Novartis AG (NYSE:NVS) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,083 shares of the company’s stock after selling 500 shares during the period. Physicians Financial Services Inc.’s holdings in Novartis AG were worth $1,342,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. City Holding Co. raised its position in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC raised its position in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in 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 valued at $111,000 after buying an additional 49 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock valued at $113,000 after buying an additional 511 shares in the last quarter. 11.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis AG (NVS) opened at 83.02 on Tuesday. The company has a 50-day moving average price of $83.91 and a 200 day moving average price of $79.26. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company has a market capitalization of $194.51 billion, a P/E ratio of 30.31 and a beta of 0.73.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period last year, the business posted $1.23 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Novartis AG will post $4.74 earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on the company. Leerink Swann reaffirmed 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 reaffirmed a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th. Zacks Investment Research raised Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Wednesday, May 24th. Finally, Credit Suisse Group lowered Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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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