Allen Wealth Management LLC Has $523,000 Position in Novartis AG (NYSE:NVS)

Allen Wealth Management LLC cut its holdings in Novartis AG (NYSE:NVS) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,374 shares of the company’s stock after selling 414 shares during the quarter. Allen Wealth Management LLC’s holdings in Novartis were worth $523,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the third quarter valued at approximately $28,000. Human Investing LLC acquired a new position in Novartis in the 4th quarter worth $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis during the 4th quarter worth about $27,000. Kestra Investment Management LLC acquired a new stake in shares of Novartis in the 4th quarter valued at about $47,000. Finally, Clearstead Trust LLC bought a new stake in shares of Novartis in the fourth quarter valued at about $51,000. 13.12% of the stock is owned by institutional investors.

Novartis Trading Up 1.1 %

Novartis stock opened at $110.81 on Thursday. The stock has a 50-day simple moving average of $108.65 and a 200 day simple moving average of $107.09. The stock has a market capitalization of $226.50 billion, a P/E ratio of 18.85, a PEG ratio of 1.70 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Analysts expect that Novartis AG will post 8.45 earnings per share 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 $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVS shares. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novartis currently has a consensus 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.