Berkeley Capital Partners LLC Trims Stake in Novartis AG (NYSE:NVS)

Berkeley Capital Partners LLC lowered its holdings in Novartis AG (NYSE:NVS) by 60.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,408 shares of the company’s stock after selling 3,608 shares during the period. Berkeley Capital Partners LLC’s holdings in Novartis were worth $234,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NVS. Legacy Investment Solutions LLC purchased a new position in Novartis in the third quarter worth $28,000. Human Investing LLC purchased a new position in shares of Novartis in the 4th quarter worth about $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at about $27,000. Kestra Investment Management LLC purchased a new position in shares of Novartis during the 4th quarter valued at about $47,000. Finally, Clearstead Trust LLC bought a new stake in Novartis in the 4th quarter worth approximately $51,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Novartis stock opened at $113.35 on Friday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The firm has a market cap of $231.68 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.70 and a beta of 0.53. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $106.41 and a 200-day moving average of $107.55.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley began coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.