Physicians Financial Services Inc. raised its holdings in Novartis AG (NYSE:NVS) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,754 shares of the company’s stock after acquiring an additional 3,575 shares during the period. Physicians Financial Services Inc.’s holdings in Novartis were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Matthew Goff Investment Advisor LLC raised its stake in Novartis by 7,454.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 2,945,178 shares of the company’s stock valued at $38,988,000 after buying an additional 2,906,190 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Novartis during the third quarter worth approximately $87,734,000. Eagle Asset Management Inc. increased its stake in shares of Novartis by 5,739.0% during the third quarter. Eagle Asset Management Inc. now owns 843,622 shares of the company’s stock worth $72,686,000 after purchasing an additional 829,174 shares during the period. Janus Henderson Group PLC increased its stake in shares of Novartis by 29.3% during the third quarter. Janus Henderson Group PLC now owns 3,267,352 shares of the company’s stock worth $281,515,000 after purchasing an additional 741,373 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Novartis by 526.2% during the third quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock worth $54,780,000 after purchasing an additional 534,268 shares during the period. 10.99% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on NVS. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research note on Tuesday, January 29th. Credit Suisse Group lowered Novartis to a “sell” rating in a research note on Thursday, December 20th. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, December 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 target price on shares of Novartis in a report on Tuesday, December 11th. Finally, Barclays downgraded Novartis from an “equal weight” rating to a “sell” rating in a report on Friday, December 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Novartis currently has a consensus rating of “Hold” and a consensus price target of $90.94.
Novartis (NYSE:NVS) last issued its earnings results on Wednesday, January 30th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.09). Novartis had a net margin of 24.30% and a return on equity of 15.66%. The firm had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $13.33 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Novartis AG will post 5.43 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Investors of record on Tuesday, March 5th will be given a $2.8646 dividend. This represents a yield of 3.27%. This is a positive change from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend is Monday, March 4th. Novartis’s payout ratio is presently 37.52%.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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