Comerica Bank decreased its stake in shares of Novartis AG (NYSE:NVS) by 10.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 151,613 shares of the company’s stock after selling 17,701 shares during the period. Comerica Bank’s holdings in Novartis AG were worth $12,779,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Primecap Management Co. CA raised its stake in Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares in the last quarter. Wells Fargo & Company MN raised its stake in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares in the last quarter. Parnassus Investments CA raised 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 in the last quarter. Bank of America Corp DE raised 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 in the last quarter. Finally, Fisher Asset Management LLC raised 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 in the last quarter. Institutional investors own 10.97% of the company’s stock.

Shares of Novartis AG (NYSE:NVS) opened at 83.53 on Monday. The firm has a market cap of $195.70 billion, a PE ratio of 30.50 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The stock has a 50 day moving average price of $83.94 and a 200 day moving average price of $79.45.

Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $1.23 earnings per share. Novartis AG’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Novartis AG will post $4.74 EPS for the current year.

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Several research firms have recently weighed in on NVS. Leerink Swann reissued a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research note on Thursday, June 22nd. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, Credit Suisse Group lowered Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is owned by company insiders.

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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