JPMorgan Chase & Co. grew its stake in shares of Novartis AG (NYSE:NVS) by 14.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,178 shares of the company’s stock after acquiring an additional 78,301 shares during the quarter. JPMorgan Chase & Co.’s holdings in Novartis AG were worth $51,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. City Holding Co. increased its holdings in shares of Novartis AG by 4.6% during the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after acquiring an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of Novartis AG by 20.0% during the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after acquiring an additional 230 shares in the last quarter. Archford Capital Strategies LLC increased its holdings in shares of Novartis AG by 72.3% during the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after acquiring an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its holdings in shares of Novartis AG by 3.4% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after acquiring an additional 49 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in shares of Novartis AG by 1.0% during the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 10.98% of the company’s stock.

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Several equities analysts have recently issued reports on NVS shares. TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Barclays PLC upgraded shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Cowen and Company set a $77.00 price objective on shares of Novartis AG and gave the company a “hold” rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Leerink Swann restated a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $83.56.

Novartis AG (NYSE:NVS) opened at 85.54 on Thursday. The firm has a market cap of $200.41 billion, a P/E ratio of 31.23 and a beta of 0.74. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The company has a 50-day moving average of $84.19 and a 200 day moving average of $80.17.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion for 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 firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities research analysts expect that Novartis AG will post $4.75 earnings per share for the current fiscal year.

In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average price of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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