Benjamin Edwards Inc. Cuts Stock Position in Novartis AG (NYSE:NVS)

Benjamin Edwards Inc. cut its holdings in shares of Novartis AG (NYSE:NVS) by 18.8% in the 4th quarter, HoldingsChannel reports. The firm owned 36,933 shares of the company’s stock after selling 8,558 shares during the quarter. Benjamin Edwards Inc.’s holdings in Novartis were worth $3,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Human Investing LLC purchased a new stake in Novartis during the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at approximately $27,000. Bellwether Advisors LLC purchased a new stake in shares of Novartis during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $47,000. Finally, Clearstead Trust LLC bought a new position in Novartis during the fourth quarter valued at $51,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

NVS stock opened at $113.09 on Tuesday. The firm has a 50 day moving average of $110.23 and a 200-day moving average of $105.95. 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 market capitalization of $238.90 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. Novartis AG has a 12 month low of $96.06 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.16. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The firm had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the business earned $1.80 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The firm also recently declared 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 payout ratio is currently 40.47%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVS shares. BNP Paribas upgraded Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Morgan Stanley began coverage on shares of Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating for the company. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.38.

Novartis 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.