Novartis AG (NYSE:NVS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of Novartis AG (NYSE:NVS) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,647,861 shares of the company’s stock after selling 351,314 shares during the quarter. Wellington Management Group LLP owned approximately 0.18% of Novartis worth $354,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Human Investing LLC purchased a new position in Novartis during the 4th quarter valued at about $25,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis in the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Novartis during the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC acquired a new position in shares of Novartis during the 4th quarter worth approximately $47,000. Finally, Clearstead Trust LLC purchased a new stake in Novartis in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 1.8 %

Shares of NYSE NVS opened at $109.49 on Wednesday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a fifty day moving average of $108.40 and a 200-day moving average of $107.06. 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 stock has a market capitalization of $223.80 billion, a PE ratio of 18.62, a P/E/G ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last issued its earnings results 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%. On average, analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Morgan Stanley started coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.