Puzo Michael J Decreases Holdings in Novartis AG (NYSE:NVS)

Puzo Michael J lessened its position in shares of Novartis AG (NYSE:NVS) by 57.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,085 shares of the company’s stock after selling 4,240 shares during the quarter. Puzo Michael J’s holdings in Novartis were worth $300,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in Novartis by 17.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after acquiring an additional 296,950 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in Novartis by 4.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock valued at $112,990,000 after buying an additional 52,044 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Novartis during the fourth quarter valued at approximately $88,339,000. Truist Financial Corp raised its stake in Novartis by 3.6% during the 4th quarter. Truist Financial Corp now owns 771,655 shares of the company’s stock valued at $75,090,000 after purchasing an additional 27,092 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Novartis by 3.2% in the fourth quarter. Sei Investments Co. now owns 531,885 shares of the company’s stock worth $51,759,000 after acquiring an additional 16,519 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $112.37 on Friday. The business’s 50 day moving average price is $108.90 and its 200-day moving average price is $107.12. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock has a market cap of $229.68 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.70 and a beta of 0.56. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

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

Novartis Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent analyst reports. Barclays restated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley started coverage on Novartis in a report on Wednesday, February 12th. They issued 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 shares of Novartis from a “hold” rating to a “buy” rating in a 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.38.

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.