Cadence Bank Has $507,000 Stock Holdings in Novartis AG (NYSE:NVS)

Cadence Bank reduced its holdings in shares of Novartis AG (NYSE:NVS) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,213 shares of the company’s stock after selling 321 shares during the quarter. Cadence Bank’s holdings in Novartis were worth $507,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Human Investing LLC acquired a new stake in shares of Novartis in the 4th quarter valued at approximately $25,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis in the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC bought a new stake in shares of Novartis during the fourth quarter worth $47,000. Clearstead Trust LLC acquired a new position in shares of Novartis during the fourth quarter worth $51,000. Finally, Brooklyn Investment Group bought a new position in shares of Novartis in the 4th quarter valued at $55,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVS. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Barclays reissued an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. BNP Paribas raised Novartis to a “strong-buy” rating in a research note on Tuesday. Finally, Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

NYSE:NVS opened at $110.69 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $226.26 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.70 and a beta of 0.56. The company has a fifty day moving average of $109.21 and a 200-day moving average of $106.33. Novartis AG has a twelve month low of $93.15 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders 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 presently 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.