Marks Group Wealth Management Inc Reduces Stock Position in Novartis AG (NYSE:NVS)

Marks Group Wealth Management Inc cut its holdings in shares of Novartis AG (NYSE:NVS) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,417 shares of the company’s stock after selling 313 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Novartis were worth $244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVS. Operose Advisors LLC purchased a new stake in Novartis during the 3rd quarter worth approximately $28,000. Planned Solutions Inc. acquired a new position in shares of Novartis in the 4th quarter worth approximately $31,000. AdvisorNet Financial Inc grew its position in shares of Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Novartis in the 3rd quarter worth approximately $39,000. Finally, Adirondack Trust Co. grew its position in shares of Novartis by 69.1% in the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after acquiring an additional 159 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Trading Up 1.1 %

NYSE:NVS opened at $98.39 on Wednesday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The firm has a market capitalization of $201.11 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.93. The business has a 50 day simple moving average of $97.95 and a 200 day simple moving average of $98.99.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a net margin of 29.83% and a return on equity of 29.90%. The company had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. Equities research analysts predict that Novartis AG will post 7.13 EPS for the current year.

Novartis Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Investors of record on Friday, March 8th were given a dividend of $3.7772 per share. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.1%. This is a positive change from Novartis’s previous annual dividend of $3.47. Novartis’s payout ratio is currently 33.84%.

Analyst Ratings Changes

NVS has been the subject of several research reports. BMO Capital Markets initiated coverage on Novartis in a research report on Friday, February 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Morgan Stanley initiated coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price for the company. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.