Drive Wealth Management LLC Sells 1,229 Shares of Novartis AG (NYSE:NVS)

Drive Wealth Management LLC lessened its stake in Novartis AG (NYSE:NVSFree Report) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,294 shares of the company’s stock after selling 1,229 shares during the period. Drive Wealth Management LLC’s holdings in Novartis were worth $232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McCarthy Grittinger Financial Group LLC purchased a new position in Novartis during the 3rd quarter valued at about $25,000. Fortis Capital Advisors LLC bought a new position in Novartis during the 4th quarter valued at approximately $27,000. Operose Advisors LLC bought a new position in Novartis during the 3rd quarter valued at approximately $28,000. Stonebridge Capital Advisors LLC raised its position in Novartis by 118.1% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 301 shares of the company’s stock valued at $30,000 after purchasing an additional 163 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in Novartis during the 4th quarter valued at approximately $31,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 1.5 %

Shares of NYSE:NVS opened at $94.41 on Wednesday. Novartis AG has a 52-week low of $92.09 and a 52-week high of $108.78. The firm has a market capitalization of $200.11 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.49 and a beta of 0.54. The stock has a 50 day moving average price of $101.05 and a 200-day moving average price of $99.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 1.15.

Novartis (NYSE:NVSGet Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a return on equity of 29.90% and a net margin of 29.83%. The firm had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the prior year, the company posted $1.51 EPS. As a group, equities research analysts anticipate that Novartis AG will post 7.17 EPS for the current fiscal 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. This represents a yield of 3.1%. The ex-dividend date was Thursday, March 7th. This is a positive change from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio (DPR) is 34.26%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVS shares. Morgan Stanley started coverage on Novartis in a research report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price target for the company. StockNews.com initiated coverage on Novartis in a research report on Wednesday, December 6th. They set a “strong-buy” rating for the company. 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. Finally, HSBC lowered Novartis from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.33.

Get Our Latest Stock Report on NVS

About Novartis

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.

See Also

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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