XTX Topco Ltd Cuts Stock Holdings in Novartis AG (NYSE:NVS)

XTX Topco Ltd reduced its position in Novartis AG (NYSE:NVS) by 66.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,379 shares of the company’s stock after selling 20,140 shares during the period. XTX Topco Ltd’s holdings in Novartis were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVS. Human Investing LLC bought a new stake in shares of Novartis in the 4th quarter worth $25,000. Union Bancaire Privee UBP SA purchased a new position in Novartis in the 4th quarter worth about $27,000. Kestra Investment Management LLC purchased a new position in Novartis in the 4th quarter worth about $47,000. Clearstead Trust LLC bought a new position in Novartis during the 4th quarter valued at about $51,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Novartis during the 4th quarter valued at about $55,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

Shares of NVS opened at $109.84 on Wednesday. The business has a 50-day simple moving average of $109.01 and a two-hundred day simple moving average of $106.36. 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 has a market cap of $224.52 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.70 and a beta of 0.56.

Novartis (NYSE:NVS) last released its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were paid a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVS shares. Morgan Stanley started coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.38.

About Novartis

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.