Corient Private Wealth LLC Reduces Stock Holdings in Novartis AG (NYSE:NVS)

Corient Private Wealth LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,528 shares of the company’s stock after selling 38,264 shares during the period. Corient Private Wealth LLC’s holdings in Novartis were worth $52,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Novartis in the 3rd quarter worth about $28,000. Human Investing LLC bought a new position in shares of Novartis during the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis in the fourth quarter worth approximately $27,000. Kestra Investment Management LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $47,000. Finally, Clearstead Trust LLC purchased a new position in Novartis during the 4th quarter valued at $51,000. Institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NVS. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $123.38.

Novartis Stock Performance

Shares of Novartis stock opened at $112.24 on Tuesday. The company has a market capitalization of $229.41 billion, a PE ratio of 19.09, a P/E/G ratio of 1.70 and a beta of 0.53. The company has a 50-day simple moving average of $105.65 and a two-hundred day simple moving average of $107.54. Novartis AG has a one year low of $92.35 and a one year 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.

Novartis (NYSE:NVS) last posted its quarterly earnings data 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 net margin of 23.56% and a return on equity of 37.24%. Research analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Announces Dividend

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

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.