Wells Fargo & Company MN lessened its holdings in shares of Novartis AG (NYSE:NVS) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,732,922 shares of the company’s stock after selling 1,367,879 shares during the period. Wells Fargo & Company MN owned about 0.30% of Novartis AG worth $645,467,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. City Holding Co. increased its holdings in Novartis AG by 4.6% during the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after purchasing an additional 54 shares during the period. TCI Wealth Advisors Inc. increased its holdings in Novartis AG by 20.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after purchasing an additional 230 shares during the period. Archford Capital Strategies LLC increased its holdings in Novartis AG by 72.3% during the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after purchasing an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC increased its holdings in Novartis AG by 3.4% during the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares during the period. Finally, Massey Quick & Co. LLC purchased a new position in Novartis AG during the 1st quarter valued at about $119,000. Institutional investors own 10.98% of the company’s stock.

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Novartis AG (NYSE NVS) opened at 85.59 on Tuesday. The stock has a market cap of $200.53 billion, a P/E ratio of 31.25 and a beta of 0.74. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The firm’s 50 day moving average price is $84.11 and its 200-day moving average price is $80.06.

Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Equities research analysts anticipate that Novartis AG will post $4.75 earnings per share for the current fiscal year.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.01% of the company’s stock.

A number of research analysts recently issued reports on the company. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Cowen and Company set a $90.00 price target on Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $83.56.

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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