Synovus Financial Corp Sells 6,704 Shares of Novartis AG (NYSE:NVS)

Synovus Financial Corp reduced its position in Novartis AG (NYSE:NVS) by 35.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,453 shares of the company’s stock after selling 6,704 shares during the quarter. Synovus Financial Corp’s holdings in Novartis were worth $1,213,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NVS. JPMorgan Chase & Co. boosted its position in Novartis by 35.6% during the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock valued at $41,176,000 after acquiring an additional 111,066 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Novartis by 26.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after purchasing an additional 18,894 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock worth $3,001,000 after purchasing an additional 5,164 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Novartis in the fourth quarter worth approximately $239,000. Finally, Arvest Bank Trust Division acquired a new position in Novartis in the third quarter valued at approximately $2,674,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NYSE NVS opened at $109.84 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The firm’s 50-day simple moving average is $109.01 and its 200 day simple moving average is $106.36. The stock has a market cap of $224.52 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.70 and a beta of 0.56. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. As a group, research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Investors 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%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised 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 issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.