Trust Co. of Toledo NA OH decreased its position in Novartis AG (NYSE:NVS) by 5.1% in the first quarter, Holdings Channel reports. The firm owned 22,549 shares of the company’s stock after selling 1,219 shares during the period. Trust Co. of Toledo NA OH’s holdings in Novartis were worth $1,928,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of NVS. Point72 Asset Management L.P. purchased a new stake in Novartis during the third quarter worth $69,127,000. Voloridge Investment Management LLC increased its position in shares of Novartis by 2,043.9% during the third quarter. Voloridge Investment Management LLC now owns 340,295 shares of the company’s stock worth $29,592,000 after purchasing an additional 324,422 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Novartis by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 9,337,800 shares of the company’s stock worth $881,768,000 after purchasing an additional 273,520 shares in the last quarter. Morgan Stanley increased its position in shares of Novartis by 10.3% during the fourth quarter. Morgan Stanley now owns 2,808,993 shares of the company’s stock worth $265,253,000 after purchasing an additional 263,445 shares in the last quarter. Finally, Everett Harris & Co. CA increased its position in shares of Novartis by 206.3% during the fourth quarter. Everett Harris & Co. CA now owns 252,830 shares of the company’s stock worth $23,875,000 after purchasing an additional 170,286 shares in the last quarter. Institutional investors own 9.86% of the company’s stock.
A number of equities analysts have recently issued reports on NVS shares. Cowen downgraded Novartis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $110.00 to $105.00 in a research report on Monday, February 1st. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research report on Friday, January 22nd. Argus reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft started coverage on Novartis in a research report on Friday, January 15th. They set a “buy” rating on the stock. Finally, Societe Generale reaffirmed a “buy” rating on shares of Novartis in a research report on Tuesday, March 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $108.50.
Novartis (NYSE:NVS) last released its earnings results on Monday, January 25th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). The firm had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.86 billion. Novartis had a net margin of 14.71% and a return on equity of 24.39%. Novartis’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share. Equities research analysts predict that Novartis AG will post 5.8 EPS for the current fiscal year.
The business also recently declared an annual dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, March 5th were given a dividend of $3.3784 per share. This is an increase from Novartis’s previous annual dividend of $3.04. This represents a yield of 2.2%. The ex-dividend date of this dividend was Thursday, March 4th. Novartis’s dividend payout ratio (DPR) is currently 39.69%.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.
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