OLD Mission Capital LLC Sells 37,778 Shares of Novartis AG (NYSE:NVS)

OLD Mission Capital LLC lowered its position in shares of Novartis AG (NYSE:NVS) by 21.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 136,145 shares of the company’s stock after selling 37,778 shares during the quarter. OLD Mission Capital LLC’s holdings in Novartis were worth $13,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in shares of 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 buying an additional 296,950 shares during the last quarter. FMR LLC boosted its stake in 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 acquiring an additional 70,314 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of Novartis by 4.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock valued at $112,990,000 after acquiring an additional 52,044 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Novartis during the 4th quarter worth approximately $88,339,000. Finally, Truist Financial Corp increased its stake in shares of Novartis by 3.6% during the 4th quarter. Truist Financial Corp now owns 771,655 shares of the company’s stock worth $75,090,000 after purchasing an additional 27,092 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 1.0 %

Shares of NYSE NVS opened at $111.48 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. The company has a market cap of $227.87 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.53. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The business has a 50-day simple moving average of $108.20 and a two-hundred day simple moving average of $107.10.

Novartis (NYSE:NVS) last released its quarterly earnings data 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 net margin of 23.56% and a return on equity of 37.24%. Research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

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

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley assumed coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.