Park National Corp OH trimmed its position in Novartis AG (NYSE:NVS) by 26.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 58,341 shares of the company’s stock after selling 20,524 shares during the period. Park National Corp OH’s holdings in Novartis were worth $4,987,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thomasville National Bank increased its stake in shares of Novartis by 28.9% in the first quarter. Thomasville National Bank now owns 8,475 shares of the company’s stock worth $699,000 after buying an additional 1,900 shares during the period. Bard Financial Services Inc. bought a new stake in Novartis in the fourth quarter valued at $631,000. Curi Capital bought a new stake in Novartis in the fourth quarter valued at $61,000. Valley Brook Capital Group bought a new stake in Novartis in the fourth quarter valued at $486,000. Finally, Carret Asset Management LLC boosted its holdings in Novartis by 1.2% in the fourth quarter. Carret Asset Management LLC now owns 47,896 shares of the company’s stock valued at $4,523,000 after acquiring an additional 580 shares in the last quarter. 9.86% of the stock is currently owned by institutional investors.
NVS opened at $86.76 on Thursday. The stock has a 50-day moving average price of $86.31 and a 200-day moving average price of $88.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69. The firm has a market cap of $198.57 billion, a PE ratio of 27.93, a P/E/G ratio of 1.76 and a beta of 0.59. Novartis AG has a 1 year low of $77.04 and a 1 year high of $98.52.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Monday, January 25th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). The company had revenue of $12.77 billion during the quarter, compared to analysts’ expectations of $12.86 billion. Novartis had a return on equity of 24.39% and a net margin of 14.71%. Novartis’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. As a group, sell-side analysts anticipate that Novartis AG will post 5.8 EPS for the current year.
The business also recently declared an annual dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, March 5th were given a $3.3784 dividend. This represents a dividend yield of 2.2%. The ex-dividend date was Thursday, March 4th. This is a positive change from Novartis’s previous annual dividend of $3.04. Novartis’s payout ratio is currently 39.69%.
NVS has been the topic of several recent analyst reports. Cowen cut shares of Novartis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $110.00 to $105.00 in a report on Monday, February 1st. Argus restated a “hold” rating on shares of Novartis in a report on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Novartis in a report on Friday, January 15th. They set a “buy” rating on the stock. Barclays restated an “underweight” rating on shares of Novartis in a report on Friday, January 22nd. Finally, Societe Generale restated a “buy” rating on shares of Novartis in a report on Tuesday, March 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Novartis presently has a consensus rating of “Hold” and an average target price of $108.50.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.
Further Reading: Find a Trading Strategy That Works
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.