Sandy Spring Bank lowered its stake in Novartis AG (NYSE:NVS) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,042 shares of the company’s stock after selling 1,061 shares during the quarter. Sandy Spring Bank’s holdings in Novartis were worth $4,454,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of NVS. Point72 Asset Management L.P. lifted its holdings in Novartis by 102.8% in the third quarter. Point72 Asset Management L.P. now owns 541,255 shares of the company’s stock worth $47,035,000 after purchasing an additional 274,355 shares during the period. Fisher Asset Management LLC lifted its holdings in Novartis by 3.1% in the third quarter. Fisher Asset Management LLC now owns 8,314,984 shares of the company’s stock worth $722,572,000 after purchasing an additional 247,749 shares during the period. Voloridge Investment Management LLC lifted its holdings in Novartis by 1,256.9% in the third quarter. Voloridge Investment Management LLC now owns 179,525 shares of the company’s stock worth $15,601,000 after purchasing an additional 166,294 shares during the period. Renaissance Group LLC acquired a new stake in Novartis in the 3rd quarter valued at about $11,728,000. Finally, First Trust Advisors LP lifted its holdings in Novartis by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 497,960 shares of the company’s stock valued at $43,273,000 after acquiring an additional 124,154 shares during the last quarter. 10.61% of the stock is owned by institutional investors and hedge funds.
NYSE NVS traded down $0.15 on Friday, reaching $97.62. The company’s stock had a trading volume of 61,351 shares, compared to its average volume of 1,913,616. Novartis AG has a twelve month low of $74.97 and a twelve month high of $99.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a market cap of $223.77 billion, a PE ratio of 19.33, a PEG ratio of 2.14 and a beta of 0.64. The firm’s 50 day moving average is $95.15 and its two-hundred day moving average is $90.83.
The firm also recently declared an annual dividend, which will be paid on Thursday, March 12th. Shareholders of record on Wednesday, March 4th will be issued a $3.0425 dividend. This represents a yield of 2%. This is an increase from Novartis’s previous annual dividend of $2.86. The ex-dividend date of this dividend is Tuesday, March 3rd. Novartis’s dividend payout ratio is presently 35.11%.
A number of brokerages have weighed in on NVS. Cowen reissued a “buy” rating and issued a $100.00 price target on shares of Novartis in a report on Friday, October 25th. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $93.34.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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