Fiduciary Trust Co Sells 399 Shares of Novartis AG (NYSE:NVS)

Fiduciary Trust Co lowered its stake in Novartis AG (NYSE:NVS) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,558 shares of the company’s stock after selling 399 shares during the period. Fiduciary Trust Co’s holdings in Novartis were worth $4,822,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Novartis by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,183,855 shares of the company’s stock worth $796,372,000 after acquiring an additional 90,823 shares during the period. Renaissance Technologies LLC raised its position in Novartis by 16.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock valued at $259,706,000 after purchasing an additional 368,171 shares in the last quarter. Northern Trust Corp lifted its stake in Novartis by 23.1% during the fourth quarter. Northern Trust Corp now owns 2,132,591 shares of the company’s stock worth $207,522,000 after purchasing an additional 399,862 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after purchasing an additional 296,950 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of 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 purchasing an additional 52,044 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. BNP Paribas upgraded shares of Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Barclays reissued an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Price Performance

Shares of NYSE:NVS opened at $108.68 on Friday. The firm has a market cap of $229.58 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. Novartis AG has a 52 week low of $96.06 and a 52 week high of $120.92. The firm’s fifty day moving average is $110.25 and its 200-day moving average is $105.95. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04.

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 return on equity of 37.24% and a net margin of 23.56%. The firm had revenue of $13.23 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is presently 40.47%.

Novartis Company 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.