Novartis AG (NYSE:NVS) Shares Sold by Martin Investment Management LLC

Martin Investment Management LLC reduced its holdings in Novartis AG (NYSE:NVS) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,083 shares of the company’s stock after selling 7,553 shares during the period. Novartis comprises about 6.1% of Martin Investment Management LLC’s holdings, making the stock its 7th largest holding. Martin Investment Management LLC’s holdings in Novartis were worth $22,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its stake in Novartis by 26.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after buying an additional 18,894 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock worth $3,001,000 after acquiring an additional 5,164 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Novartis during the fourth quarter valued at $239,000. Charles Schwab Investment Management Inc. grew its stake in Novartis by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock valued at $18,088,000 after purchasing an additional 18,990 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new position in Novartis in the 3rd quarter worth about $2,674,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.8 %

Shares of NVS stock opened at $109.49 on Wednesday. The firm has a market capitalization of $223.80 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm’s fifty day simple moving average is $108.40 and its 200 day simple moving average is $107.06. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48.

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

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s payout ratio is 42.69%.

Analysts Set New Price Targets

Several brokerages recently commented on NVS. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. 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 stock. According to MarketBeat, Novartis has an average rating of “Hold” and an average target price of $123.38.

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.