Sandy Spring Bank Trims Stake in Novartis AG (NYSE:NVS)

Sandy Spring Bank reduced its stake in Novartis AG (NYSE:NVS) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,274 shares of the company’s stock after selling 684 shares during the period. Sandy Spring Bank’s holdings in Novartis were worth $1,194,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Novartis in the 4th quarter valued at approximately $88,339,000. Fisher Asset Management LLC lifted its stake in Novartis by 17.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock worth $194,908,000 after acquiring an additional 296,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock valued at $51,554,000 after acquiring an additional 296,890 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Novartis during the third quarter worth about $30,063,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Novartis during the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 1.6 %

Shares of Novartis stock opened at $113.35 on Friday. The company has a fifty day simple moving average of $106.41 and a 200-day simple moving average of $107.55. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. 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 stock has a market cap of $231.68 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (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%. On average, equities analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating for the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Finally, Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.38.

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.