Grantham Mayo Van Otterloo & Co. LLC Sells 21,663 Shares of Novartis AG $NVS

Grantham Mayo Van Otterloo & Co. LLC decreased its position in Novartis AG (NYSE:NVS) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 331,032 shares of the company’s stock after selling 21,663 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Novartis were worth $42,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of Novartis in the second quarter valued at $30,000. Valley Wealth Managers Inc. purchased a new position in shares of Novartis during the 3rd quarter valued at $31,000. Country Trust Bank grew its stake in shares of Novartis by 47.4% during the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock worth $44,000 after acquiring an additional 110 shares during the period. Evelyn Partners Investment Management LLP increased its holdings in Novartis by 28.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 448 shares of the company’s stock worth $54,000 after acquiring an additional 98 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in Novartis by 1,804.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 457 shares of the company’s stock worth $61,000 after acquiring an additional 433 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 0.5%

NVS opened at $160.21 on Friday. The firm has a market capitalization of $338.43 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 2.45 and a beta of 0.49. Novartis AG has a one year low of $97.71 and a one year high of $170.46. The company has a fifty day moving average price of $152.44 and a 200-day moving average price of $137.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.12 and a quick ratio of 0.89.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.85 billion. Novartis had a return on equity of 40.53% and a net margin of 25.65%.The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. Equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 11th will be issued a $4.773 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 312.0%. Novartis’s dividend payout ratio (DPR) is presently 36.31%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HSBC reaffirmed a “reduce” rating and set a $112.00 price objective on shares of Novartis in a report on Wednesday, December 10th. Bank of America raised shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. Morgan Stanley restated an “overweight” rating on shares of Novartis in a research note on Wednesday, December 3rd. DZ Bank downgraded shares of Novartis from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Citigroup reissued a “buy” rating on shares of Novartis in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $119.75.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.