Novartis AG (NYSE:NVS) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its position in shares of Novartis AG (NYSE:NVS) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 430,178 shares of the company’s stock after selling 17,905 shares during the period. Douglas Lane & Associates LLC’s holdings in Novartis AG were worth $35,907,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA increased its position in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock worth $1,611,199,000 after buying an additional 446,976 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares in the last quarter. Parnassus Investments CA increased its stake in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after buying an additional 3,858,632 shares during the period. Bank of America Corp DE increased its stake in Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares during the period. 11.27% of the stock is currently owned by institutional investors and hedge funds.

Novartis AG (NYSE:NVS) traded up 0.20% on Friday, hitting $83.35. 1,363,885 shares of the stock traded hands. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The firm has a market cap of $195.28 billion, a price-to-earnings ratio of 30.43 and a beta of 0.73. The stock has a 50-day moving average of $84.17 and a 200-day moving average of $78.68.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. 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 company earned $1.23 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts forecast that Novartis AG will post $4.73 earnings per share for the current year.

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Several equities research analysts recently issued reports on NVS shares. TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Barclays PLC raised shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. Vetr downgraded shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research note on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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 dated Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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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