Bellecapital International Ltd. boosted its holdings in Novartis AG (NYSE:NVS) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,490 shares of the company’s stock after acquiring an additional 229 shares during the quarter. Bellecapital International Ltd.’s holdings in Novartis were worth $385,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NVS. Matthew Goff Investment Advisor LLC lifted its holdings in Novartis by 7,454.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 2,945,178 shares of the company’s stock valued at $38,988,000 after buying an additional 2,906,190 shares during the period. Point72 Asset Management L.P. acquired a new position in Novartis in the third quarter valued at approximately $87,734,000. Eagle Asset Management Inc. lifted its holdings in Novartis by 5,739.0% in the third quarter. Eagle Asset Management Inc. now owns 843,622 shares of the company’s stock valued at $72,686,000 after buying an additional 829,174 shares during the period. Janus Henderson Group PLC lifted its holdings in Novartis by 29.3% in the third quarter. Janus Henderson Group PLC now owns 3,267,352 shares of the company’s stock valued at $281,515,000 after buying an additional 741,373 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Novartis by 526.2% in the third quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock valued at $54,780,000 after buying an additional 534,268 shares during the period. Institutional investors and hedge funds own 10.99% of the company’s stock.
NVS opened at $89.88 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $207.62 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.93 and a beta of 0.69. Novartis AG has a twelve month low of $72.30 and a twelve month high of $92.39.
Novartis (NYSE:NVS) last posted its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). The firm had revenue of $13.27 billion during the quarter, compared to analyst estimates of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. Research analysts predict that Novartis AG will post 5.43 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Tuesday, March 5th will be issued a $2.8646 dividend. The ex-dividend date is Monday, March 4th. This is a positive change from Novartis’s previous annual dividend of $2.33. This represents a yield of 3.27%. Novartis’s dividend payout ratio (DPR) is 37.52%.
NVS has been the topic of several analyst reports. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a report on Wednesday, January 16th. Credit Suisse Group lowered shares of Novartis to a “sell” rating in a report on Thursday, December 20th. Wolfe Research initiated coverage on shares of Novartis in a report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Goldman Sachs Group upgraded shares of Novartis from a “neutral” rating to a “conviction-buy” rating in a report on Friday, November 16th. Finally, Cowen upgraded shares of Novartis from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $90.94.
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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