Novartis AG (NYSE:NVS) Position Trimmed by Summit Global Investments

Summit Global Investments reduced its stake in shares of Novartis AG (NYSE:NVS) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,873 shares of the company’s stock after selling 11,726 shares during the quarter. Summit Global Investments’ holdings in Novartis were worth $2,410,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVS. Brookstone Capital Management raised its stake in shares of Novartis by 1.3% during the 3rd quarter. Brookstone Capital Management now owns 11,987 shares of the company’s stock worth $1,134,000 after purchasing an additional 157 shares in the last quarter. Dakota Wealth Management grew its position in Novartis by 20.0% in the third quarter. Dakota Wealth Management now owns 8,436 shares of the company’s stock worth $859,000 after acquiring an additional 1,404 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of Novartis by 52.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,704 shares of the company’s stock worth $174,000 after purchasing an additional 584 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Novartis by 1.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 347,427 shares of the company’s stock valued at $35,389,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Foster & Motley Inc. lifted its stake in shares of Novartis by 40.5% in the 3rd quarter. Foster & Motley Inc. now owns 5,090 shares of the company’s stock valued at $518,000 after purchasing an additional 1,467 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Novartis stock traded down $0.09 during trading hours on Friday, hitting $97.25. 1,045,666 shares of the stock were exchanged, compared to its average volume of 1,559,969. Novartis AG has a 12 month low of $92.19 and a 12 month high of $108.78. The business’s 50-day moving average is $97.48 and its two-hundred day moving average is $98.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. The stock has a market capitalization of $198.78 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.56 and a beta of 0.53.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, January 30th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a net margin of 31.33% and a return on equity of 32.15%. The business had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. Equities research analysts expect that Novartis AG will post 7.26 EPS for the current fiscal year.

Novartis Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were given a $3.7772 dividend. This represents a dividend yield of 3.1%. The ex-dividend date was Thursday, March 7th. This is a positive change from Novartis’s previous annual dividend of $3.47. Novartis’s payout ratio is currently 32.79%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets raised their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Morgan Stanley began coverage on Novartis in a research note on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price objective on the stock.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.