Banco de Sabadell S.A Sells 264 Shares of Novartis AG (NYSE:NVS)

Banco de Sabadell S.A decreased its position in shares of Novartis AG (NYSE:NVS) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 6,852 shares of the company’s stock after selling 264 shares during the period. Banco de Sabadell S.A’s holdings in Novartis were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NVS. King Luther Capital Management Corp boosted its stake in Novartis by 9.7% in the third quarter. King Luther Capital Management Corp now owns 10,442 shares of the company’s stock worth $1,201,000 after buying an additional 919 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Novartis by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock worth $18,088,000 after acquiring an additional 18,990 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Novartis by 6.7% in the 3rd quarter. Raymond James Trust N.A. now owns 15,384 shares of the company’s stock valued at $1,769,000 after purchasing an additional 963 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Novartis by 17.0% during the 3rd quarter. Citigroup Inc. now owns 294,178 shares of the company’s stock valued at $33,836,000 after purchasing an additional 42,642 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its holdings in shares of Novartis by 14.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 2,411 shares of the company’s stock valued at $277,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating for the company. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Three 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Trading Down 1.0 %

NYSE NVS opened at $112.11 on Friday. The stock has a market cap of $229.15 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The stock has a 50 day simple moving average of $106.67 and a two-hundred day simple moving average of $107.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04.

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

Novartis Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders 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 payout ratio is 42.69%.

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.