Schafer Cullen Capital Management Inc decreased its holdings in shares of Novartis AG (NYSE:NVS) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,395,023 shares of the company’s stock after selling 205,782 shares during the period. Novartis comprises 3.2% of Schafer Cullen Capital Management Inc’s portfolio, making the stock its largest holding. Schafer Cullen Capital Management Inc’s holdings in Novartis were worth $205,517,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Naples Global Advisors LLC boosted its stake in Novartis by 0.6% in the 4th quarter. Naples Global Advisors LLC now owns 20,599 shares of the company’s stock worth $1,815,000 after purchasing an additional 115 shares in the last quarter. Camelot Portfolios LLC boosted its stake in Novartis by 1.2% in the 4th quarter. Camelot Portfolios LLC now owns 10,063 shares of the company’s stock worth $863,000 after purchasing an additional 123 shares in the last quarter. Financial Architects Inc boosted its stake in Novartis by 0.8% in the 4th quarter. Financial Architects Inc now owns 15,015 shares of the company’s stock worth $1,288,000 after purchasing an additional 125 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Novartis by 3.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,511 shares of the company’s stock worth $301,000 after purchasing an additional 129 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in Novartis by 0.6% in the 4th quarter. Stephens Inc. AR now owns 22,656 shares of the company’s stock worth $1,944,000 after purchasing an additional 141 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.
NYSE NVS traded down $0.52 on Monday, hitting $92.77. 562,611 shares of the company’s stock traded hands, compared to its average volume of 1,949,830. The company has a current ratio of 1.20, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. Novartis AG has a 1-year low of $72.30 and a 1-year high of $93.62. The stock has a market cap of $212.57 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.96 and a beta of 0.67.
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 consensus estimate of $1.33 by ($0.09). The firm had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $13.33 billion. Novartis had a net margin of 24.30% and a return on equity of 15.66%. Novartis’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Analysts forecast that Novartis AG will post 5.42 EPS for the current year.
The company also recently announced an annual dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were issued a dividend of $2.8646 per share. This represents a dividend yield of 3.27%. This is a positive change from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend was Monday, March 4th. Novartis’s payout ratio is 36.15%.
A number of research firms recently commented on NVS. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Wednesday, November 28th. Jefferies Financial Group restated a “buy” rating and set a $105.00 price objective on shares of Novartis in a research note on Tuesday, December 11th. Cowen upgraded shares of Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 price objective for the company in a research note on Sunday, December 2nd. Finally, Barclays cut shares of Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday, December 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.94.
In other news, major shareholder Bioventures Ltd Novartis sold 132,738 shares of Novartis stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $2.12, for a total transaction of $281,404.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is owned by insiders.
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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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