Canandaigua National Bank & Trust Co. Buys 436 Shares of Novartis AG (NVS)

Canandaigua National Bank & Trust Co. raised its stake in Novartis AG (NYSE:NVS) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,957 shares of the company’s stock after buying an additional 436 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Novartis AG were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BB&T Corp boosted its stake in Novartis AG by 0.9% in the third quarter. BB&T Corp now owns 293,304 shares of the company’s stock valued at $23,160,000 after buying an additional 2,755 shares during the last quarter. Aperio Group LLC boosted its stake in Novartis AG by 5.2% in the third quarter. Aperio Group LLC now owns 1,023,647 shares of the company’s stock valued at $80,827,000 after buying an additional 51,014 shares during the last quarter. Cardinal Capital Management boosted its stake in Novartis AG by 2.1% in the third quarter. Cardinal Capital Management now owns 33,424 shares of the company’s stock valued at $2,639,000 after buying an additional 672 shares during the last quarter. Texan Capital Management boosted its stake in Novartis AG by 0.5% in the third quarter. Texan Capital Management now owns 26,666 shares of the company’s stock valued at $2,106,000 after buying an additional 123 shares during the last quarter. Finally, Timber Creek Capital Management LLC boosted its stake in Novartis AG by 1.5% in the third quarter. Timber Creek Capital Management LLC now owns 37,088 shares of the company’s stock valued at $2,928,000 after buying an additional 565 shares during the last quarter. 11.39% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Novartis AG (NYSE:NVS) traded up 0.47% during mid-day trading on Friday, reaching $80.83. 1,798,735 shares of the company traded hands. Novartis AG has a 52-week low of $66.93 and a 52-week high of $83.58. The stock has a market capitalization of $191.21 billion, a PE ratio of 30.39 and a beta of 0.76. The firm’s 50-day moving average is $80.16 and its 200 day moving average is $75.15.

Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.59 billion. During the same period last year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that Novartis AG will post $4.69 earnings per share for the current year.

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A number of research analysts recently weighed in on the stock. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 8th. TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Barclays PLC began coverage on shares of Novartis AG in a research report on Tuesday, March 7th. They set an “underweight” rating for the company. Morgan Stanley restated a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th. Finally, Societe Generale upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $73.82 to $74.37 in a research report on Tuesday, March 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Novartis AG has a consensus rating of “Hold” and an average price target of $83.12.

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.

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