Novartis AG (NYSE:NVS) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its position in Novartis AG (NYSE:NVS) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 451,562 shares of the company’s stock after selling 41,094 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Novartis were worth $45,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Human Investing LLC acquired a new position in shares of Novartis in the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis during the 4th quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the third quarter worth $28,000. Kestra Investment Management LLC purchased a new stake in shares of Novartis in the fourth quarter valued at $47,000. Finally, Clearstead Trust LLC acquired a new position in Novartis in the fourth quarter valued at $51,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVS. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Up 1.2 %

Shares of Novartis stock opened at $112.69 on Monday. The company has a fifty day moving average price of $107.92 and a 200 day moving average price of $107.13. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The stock has a market cap of $230.34 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53.

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

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders 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 payout ratio is currently 42.69%.

Novartis Company 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.