Novartis AG (NYSE:NVS) Shares Bought by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC raised its stake in shares of Novartis AG (NYSE:NVS) by 1.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 60,666 shares of the company’s stock after buying an additional 794 shares during the period. Chesley Taft & Associates LLC’s holdings in Novartis AG were worth $5,064,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NVS. Howe & Rusling Inc. boosted 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. boosted 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. boosted 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 boosted 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 boosted 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. Institutional investors and hedge funds own 11.16% of the company’s stock.

Shares of Novartis AG (NVS) opened at 82.76 on Friday. The stock has a market cap of $193.90 billion, a price-to-earnings ratio of 30.22 and a beta of 0.73. The company has a 50-day moving average of $83.92 and a 200 day moving average 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 released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. Novartis AG’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, equities analysts forecast that Novartis AG will post $4.73 earnings per share for the current fiscal year.

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NVS has been the subject of several research reports. TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Barclays PLC upgraded shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. Vetr cut shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price objective for the company. in a research note on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 target price on shares of Novartis AG and gave the company 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $83.56.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was purchased 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 Securities & Exchange Commission, 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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