Novartis AG (NYSE:NVS) Shares Sold by SouthState Corp

SouthState Corp trimmed its stake in shares of Novartis AG (NYSE:NVS) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,966 shares of the company’s stock after selling 429 shares during the quarter. SouthState Corp’s holdings in Novartis were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Gallacher Capital Management LLC lifted its stake in Novartis by 2.5% in the fourth quarter. Gallacher Capital Management LLC now owns 5,060 shares of the company’s stock valued at $492,000 after buying an additional 124 shares during the last quarter. Gitterman Wealth Management LLC lifted its position in Novartis by 8.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 3,324 shares of the company’s stock valued at $323,000 after purchasing an additional 249 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in Novartis by 5.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 12,378 shares of the company’s stock valued at $1,205,000 after purchasing an additional 653 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Novartis by 12.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 37,063 shares of the company’s stock valued at $3,607,000 after purchasing an additional 4,091 shares during the period. Finally, one8zero8 LLC bought a new position in Novartis in the 4th quarter worth about $279,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 2.9 %

NYSE:NVS opened at $112.24 on Tuesday. The stock has a fifty day simple moving average of $105.65 and a 200 day simple moving average of $107.54. The firm has a market capitalization of $229.41 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

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

Novartis Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders 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 42.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Morgan Stanley started coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating for the company. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.38.

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.