Professional Advisory Services Inc. Decreases Stake in Novartis AG (NYSE:NVS)

Professional Advisory Services Inc. decreased its stake in Novartis AG (NYSE:NVS) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,738 shares of the company’s stock after selling 11,609 shares during the period. Novartis AG makes up 4.1% of Professional Advisory Services Inc.’s holdings, making the stock its 2nd largest position. Professional Advisory Services Inc.’s holdings in Novartis AG were worth $18,675,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Howe & Rusling Inc. increased its stake in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock valued at $100,000 after buying an additional 882 shares during the last quarter. City Holding Co. increased its stake in shares of Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after buying an additional 54 shares during the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock valued at $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC increased its stake in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its stake in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 11.16% of the company’s stock.

Novartis AG (NVS) opened at 82.76 on Friday. The firm has a market capitalization of $193.90 billion, a PE ratio of 30.22 and a beta of 0.73. The stock has a 50 day moving average price of $83.92 and a 200-day moving average price of $79.10. Novartis AG has a one year low of $66.93 and a one year high of $86.90.

Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the 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 business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Novartis AG will post $4.73 earnings per share for the current year.

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Several analysts recently weighed in on the company. Leerink Swann restated a “market perform” rating and set a $83.00 target price on shares of Novartis AG in a research note on Thursday, June 22nd. Morgan Stanley restated a “sell” rating on shares of Novartis AG in a research note on Tuesday, June 6th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. Finally, Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a report on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $83.56.

In other news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by insiders.

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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