Thompson Siegel & Walmsley LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 23.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,070 shares of the company’s stock after selling 1,215 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Novartis were worth $307,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. ST Germain D J Co. Inc. grew its holdings in Novartis by 14.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after buying an additional 615 shares during the last quarter. American Research & Management Co. grew its holdings in Novartis by 1.1% during the 2nd quarter. American Research & Management Co. now owns 57,749 shares of the company’s stock valued at $4,362,000 after buying an additional 625 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Novartis by 24.2% during the 2nd quarter. Wesbanco Bank Inc. now owns 3,347 shares of the company’s stock worth $253,000 after purchasing an additional 653 shares during the period. D.B. Root & Company LLC lifted its stake in shares of Novartis by 5.7% during the 2nd quarter. D.B. Root & Company LLC now owns 12,697 shares of the company’s stock worth $959,000 after purchasing an additional 690 shares during the period. Finally, Abbot Financial Management Inc. lifted its stake in shares of Novartis by 2.5% during the 1st quarter. Abbot Financial Management Inc. now owns 28,769 shares of the company’s stock worth $2,326,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 11.16% of the company’s stock.

Shares of NVS opened at $83.81 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 1.15. The firm has a market capitalization of $194.09 billion, a P/E ratio of 16.65, a PEG ratio of 1.82 and a beta of 0.82. Novartis AG has a twelve month low of $72.30 and a twelve month high of $94.19.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, July 18th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. The business had revenue of $13.16 billion for the quarter, compared to analyst estimates of $12.93 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. equities research analysts expect that Novartis AG will post 5.17 EPS for the current year.

NVS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Thursday, May 17th. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. HSBC lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Friday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Novartis has an average rating of “Hold” and a consensus price target of $93.50.

In related news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $3.22, for a total value of $26,342.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 81,322 shares of company stock worth $290,796 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

About Novartis

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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