FineMark National Bank & Trust lifted its holdings in Novartis AG (NYSE:NVS) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,022 shares of the company’s stock after acquiring an additional 4,424 shares during the period. FineMark National Bank & Trust’s holdings in Novartis were worth $10,299,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox grew its holdings in Novartis by 0.5% during the 3rd quarter. Dodge & Cox now owns 44,361,387 shares of the company’s stock valued at $3,822,177,000 after purchasing an additional 229,525 shares in the last quarter. Primecap Management Co. CA grew its holdings in Novartis by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 22,241,721 shares of the company’s stock valued at $1,916,347,000 after purchasing an additional 110,563 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Novartis by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 7,609,632 shares of the company’s stock valued at $652,983,000 after purchasing an additional 184,555 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Novartis by 1.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 7,345,919 shares of the company’s stock valued at $632,925,000 after purchasing an additional 136,220 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Novartis by 29.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,267,352 shares of the company’s stock valued at $281,515,000 after purchasing an additional 741,373 shares in the last quarter. 10.99% of the stock is owned by institutional investors.
Get Novartis alerts:Shares of NVS stock opened at $89.73 on Tuesday. The firm has a market cap of $207.62 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.93 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.20 and a debt-to-equity ratio of 0.29. Novartis AG has a 1-year low of $72.30 and a 1-year high of $92.39.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). The company had revenue of $13.27 billion for the quarter, compared to analyst estimates of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. Novartis’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 earnings per share. Equities analysts forecast that Novartis AG will post 5.43 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th will be given a $2.8646 dividend. This is an increase from Novartis’s previous annual dividend of $2.33. This represents a dividend yield of 3.27%. The ex-dividend date is Monday, March 4th. Novartis’s dividend payout ratio (DPR) is presently 37.52%.
A number of equities research analysts recently weighed in on NVS shares. Cowen raised shares of Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 price target for the company in a report on Sunday, December 2nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a report on Wednesday, January 16th. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, December 18th. Barclays lowered shares of Novartis from an “equal weight” rating to a “sell” rating in a report on Friday, December 7th. Finally, Credit Suisse Group lowered shares of Novartis to a “sell” rating in a report on Thursday, December 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Novartis has a consensus rating of “Hold” and a consensus target price of $90.94.
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
Further Reading: Hedge Funds
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