Novartis AG (NVS) Shares Sold by Aberdeen Asset Management PLC UK

Aberdeen Asset Management PLC UK lessened its stake in Novartis AG (NYSE:NVS) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the company’s stock after selling 2,100 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Novartis AG were worth $576,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Farr Miller & Washington LLC DC grew its position in Novartis AG by 0.3% in the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock worth $247,000 after purchasing an additional 10 shares during the period. Washington Trust Bank grew its position in Novartis AG by 0.3% in the 2nd quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock worth $366,000 after purchasing an additional 14 shares during the period. North Star Investment Management Corp. grew its position in Novartis AG by 1.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after purchasing an additional 16 shares during the period. Ledyard National Bank grew its position in Novartis AG by 0.9% in the 2nd quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock worth $286,000 after purchasing an additional 30 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Novartis AG by 0.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock worth $375,000 after purchasing an additional 31 shares during the period. 10.93% of the stock is owned by institutional investors and hedge funds.

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

Shares of Novartis AG (NYSE:NVS) opened at 84.94 on Friday. The stock’s 50 day moving average is $84.30 and its 200-day moving average is $80.50. The company has a market cap of $199.01 billion, a P/E ratio of 31.01 and a beta of 0.74. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.

Novartis AG (NYSE:NVS) last issued its earnings results 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. 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 quarter last year, the company posted $1.23 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Novartis AG will post $4.75 EPS for the current year.

A number of equities research analysts have commented on NVS shares. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 5th. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company reaffirmed a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Finally, Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $85.12.

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

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