M&R Capital Management Inc. lessened its stake in shares of Novartis AG (NYSE:NVS) by 32.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 675 shares of the company’s stock after selling 318 shares during the quarter. M&R Capital Management Inc.’s holdings in Novartis were worth $57,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of NVS. Point72 Asset Management L.P. acquired a new position in shares of Novartis during the third quarter valued at approximately $69,127,000. Voloridge Investment Management LLC increased its stake in shares of Novartis by 2,043.9% during the third quarter. Voloridge Investment Management LLC now owns 340,295 shares of the company’s stock valued at $29,592,000 after acquiring an additional 324,422 shares during the period. Fisher Asset Management LLC grew its position in Novartis by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 9,337,800 shares of the company’s stock worth $881,768,000 after buying an additional 273,520 shares during the last quarter. Morgan Stanley grew its position in Novartis by 10.3% in the fourth quarter. Morgan Stanley now owns 2,808,993 shares of the company’s stock worth $265,253,000 after buying an additional 263,445 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in Novartis by 206.3% in the fourth quarter. Everett Harris & Co. CA now owns 252,830 shares of the company’s stock worth $23,875,000 after buying an additional 170,286 shares during the last quarter. Institutional investors and hedge funds own 9.86% of the company’s stock.
Several research analysts have issued reports on NVS shares. Barclays restated an “underweight” rating on shares of Novartis in a research report on Friday, January 22nd. Morgan Stanley restated an “overweight” rating on shares of Novartis in a research report on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Novartis in a research report on Friday, January 15th. They issued a “buy” rating on the stock. Sanford C. Bernstein began coverage on shares of Novartis in a research report on Monday, March 22nd. They issued a “market perform” rating on the stock. Finally, Cowen cut shares of Novartis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $110.00 to $105.00 in a research report on Monday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Novartis presently has an average rating of “Hold” and an average target price of $108.50.
Novartis (NYSE:NVS) last issued its earnings results on Monday, January 25th. The company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). The company had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.86 billion. Novartis had a net margin of 14.71% and a return on equity of 24.39%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.32 EPS. Equities research analysts expect that Novartis AG will post 5.8 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, March 5th were paid a dividend of $3.3784 per share. The ex-dividend date of this dividend was Thursday, March 4th. This represents a dividend yield of 2.2%. This is a positive change from Novartis’s previous annual dividend of $3.04. Novartis’s dividend payout ratio (DPR) is 39.69%.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.
Further Reading: Why is the ROA ratio important?
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.