Edgemoor Investment Advisors Inc. Cuts Holdings in Novartis AG (NYSE:NVS)

Edgemoor Investment Advisors Inc. decreased its holdings in Novartis AG (NYSE:NVS) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,683 shares of the company’s stock after selling 6,761 shares during the period. Novartis makes up about 1.0% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 25th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Novartis were worth $11,646,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC lifted its position in shares of Novartis by 3.3% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 12,547 shares of the company’s stock worth $1,221,000 after purchasing an additional 403 shares during the period. Parallel Advisors LLC increased its stake in Novartis by 3.6% during the 4th quarter. Parallel Advisors LLC now owns 14,417 shares of the company’s stock valued at $1,403,000 after purchasing an additional 496 shares in the last quarter. Gallacher Capital Management LLC increased its stake in Novartis by 2.5% during the 4th quarter. Gallacher Capital Management LLC now owns 5,060 shares of the company’s stock valued at $492,000 after purchasing an additional 124 shares in the last quarter. Gitterman Wealth Management LLC grew its stake in shares of Novartis by 8.1% in the fourth quarter. Gitterman Wealth Management LLC now owns 3,324 shares of the company’s stock worth $323,000 after acquiring an additional 249 shares during the period. Finally, Greenwich Wealth Management LLC grew its stake in shares of Novartis by 5.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 12,378 shares of the company’s stock worth $1,205,000 after acquiring an additional 653 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVS. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.38.

Novartis Stock Up 0.0 %

Shares of NYSE:NVS opened at $109.15 on Monday. The business has a 50-day moving average price of $105.36 and a 200 day moving average price of $107.59. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $223.10 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

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

About Novartis

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.