Corient Private Wealth LLC Reduces Position in Novartis AG (NYSE:NVS)

Corient Private Wealth LLC lowered its stake in Novartis AG (NYSE:NVS) by 6.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 541,528 shares of the company’s stock after selling 38,264 shares during the period. Corient Private Wealth LLC’s holdings in Novartis were worth $52,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NVS. Fisher Asset Management LLC raised its stake in Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock worth $194,908,000 after acquiring an additional 296,950 shares during the last quarter. FMR LLC increased its holdings in shares of Novartis by 5.5% in the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock valued at $155,669,000 after purchasing an additional 70,314 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in shares of Novartis by 4.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock worth $112,990,000 after purchasing an additional 52,044 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Novartis during the fourth quarter worth about $88,339,000. Finally, Bank of Montreal Can boosted its position in Novartis by 18.7% in the third quarter. Bank of Montreal Can now owns 780,980 shares of the company’s stock valued at $90,289,000 after buying an additional 123,077 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE:NVS opened at $112.24 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The stock’s 50-day moving average price is $105.65 and its 200-day moving average price is $107.54. The stock has a market capitalization of $229.41 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. As a group, equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is presently 42.69%.

Analyst Ratings Changes

NVS has been the subject of several research reports. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.38.

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.