Security National Trust Co. reduced its stake in shares of Novartis AG (NYSE:NVS) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,950 shares of the company’s stock after selling 650 shares during the period. Security National Trust Co.’s holdings in Novartis AG were worth $246,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CGOV Asset Management increased its position in Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock valued at $98,662,000 after buying an additional 24,430 shares during the last quarter. Nationwide Fund Advisors increased its position in Novartis AG by 8.1% in the first quarter. Nationwide Fund Advisors now owns 53,616 shares of the company’s stock valued at $3,982,000 after buying an additional 4,016 shares during the last quarter. Cardinal Capital Management increased its position in Novartis AG by 9.2% in the first quarter. Cardinal Capital Management now owns 31,099 shares of the company’s stock valued at $2,310,000 after buying an additional 2,613 shares during the last quarter. ST Germain D J Co. Inc. increased its position in Novartis AG by 11.2% in the first quarter. ST Germain D J Co. Inc. now owns 6,593 shares of the company’s stock valued at $490,000 after buying an additional 664 shares during the last quarter. Finally, Bartlett & Co. LLC increased its position in Novartis AG by 0.3% in the first quarter. Bartlett & Co. LLC now owns 466,155 shares of the company’s stock valued at $34,621,000 after buying an additional 1,587 shares during the last quarter. Hedge funds and other institutional investors own 10.97% of the company’s stock.

Shares of Novartis AG (NYSE:NVS) opened at 83.62 on Wednesday. The firm has a 50 day moving average price of $83.94 and a 200-day moving average price of $79.45. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The firm has a market cap of $195.91 billion, a P/E ratio of 30.53 and a beta of 0.73.

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

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Several equities analysts have recently commented on NVS shares. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company reaffirmed a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Finally, Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. 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. Novartis AG has a consensus rating of “Hold” and an average price target of $83.56.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 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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