Hartland & Co. LLC increased its position in Novartis AG (NYSE:NVS) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,425 shares of the company’s stock after buying an additional 598 shares during the period. Hartland & Co. LLC’s holdings in Novartis AG were worth $1,788,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Washington Trust Bank boosted its position in Novartis AG by 0.3% in the second quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock worth $366,000 after buying an additional 14 shares during the period. North Star Investment Management Corp. boosted its position in Novartis AG by 1.0% in the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after buying an additional 16 shares during the period. Ledyard National Bank boosted its position in Novartis AG by 0.9% in the second quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock worth $286,000 after buying an additional 30 shares during the period. Parkside Financial Bank & Trust boosted its position in Novartis AG by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock worth $375,000 after buying an additional 31 shares during the period. Finally, Enterprise Financial Services Corp boosted its position in Novartis AG by 1.7% in the second quarter. Enterprise Financial Services Corp now owns 2,579 shares of the company’s stock worth $215,000 after buying an additional 42 shares during the period. 10.97% of the stock is currently owned by institutional investors and hedge funds.

Novartis AG (NYSE NVS) opened at 83.33 on Tuesday. The firm has a market cap of $195.23 billion, a P/E ratio of 30.42 and a beta of 0.73. The stock’s 50 day moving average is $83.94 and its 200-day moving average is $79.45. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.

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

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A number of equities analysts have recently weighed in on the stock. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 22nd. Barclays PLC raised shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Credit Suisse Group lowered shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research report on Wednesday, July 5th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.56.

In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of Novartis AG stock in a transaction that occurred on Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, with a total value 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.

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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