Wells Fargo & Company MN Has $184.65 Million Position in Novartis AG (NYSE:NVS)

Wells Fargo & Company MN trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,897,571 shares of the company’s stock after selling 86,276 shares during the quarter. Wells Fargo & Company MN owned 0.09% of Novartis worth $184,653,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Bryn Mawr Capital Management LLC boosted its stake in Novartis by 0.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after purchasing an additional 100 shares during the period. Rothschild Investment LLC boosted its position in shares of Novartis by 0.6% during the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after buying an additional 101 shares during the period. Meridian Wealth Management LLC grew its holdings in shares of Novartis by 2.6% during the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock worth $405,000 after buying an additional 106 shares in the last quarter. Angeles Wealth Management LLC raised its position in Novartis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock valued at $316,000 after buying an additional 110 shares during the last quarter. Finally, Heritage Family Offices LLP lifted its stake in Novartis by 1.9% in the 4th quarter. Heritage Family Offices LLP now owns 6,107 shares of the company’s stock valued at $594,000 after acquiring an additional 112 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Down 5.8 %

Shares of NYSE:NVS opened at $105.79 on Friday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market capitalization of $216.24 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. The company has a 50-day simple moving average of $109.02 and a 200 day simple moving average of $106.98.

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

Novartis Dividend Announcement

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

Analyst Upgrades and Downgrades

NVS has been the topic of a number of recent research reports. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley started coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.38.

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.