Novartis AG (NYSE:NVS) Shares Sold by Canal Capital Management LLC

Canal Capital Management LLC lowered its stake in shares of Novartis AG (NYSE:NVS) by 38.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,230 shares of the company’s stock after selling 2,010 shares during the quarter. Canal Capital Management LLC’s holdings in Novartis were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Human Investing LLC bought a new stake in shares of Novartis in the 4th quarter worth about $25,000. Union Bancaire Privee UBP SA acquired a new position in shares of Novartis in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC bought a new stake in shares of Novartis in the 4th quarter valued at approximately $47,000. Clearstead Trust LLC acquired a new stake in shares of Novartis during the 4th quarter valued at approximately $51,000. Finally, Brooklyn Investment Group acquired a new position in Novartis in the fourth quarter worth $55,000. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVS. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. BNP Paribas raised Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Trading Up 1.0 %

Shares of NVS stock opened at $110.69 on Monday. Novartis AG has a 12 month low of $94.72 and a 12 month high of $120.92. The business’s 50 day moving average is $109.21 and its two-hundred day moving average is $106.22. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $226.26 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s payout ratio is 42.69%.

Novartis 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.