Congress Wealth Management LLC DE Lowers Stake in Novartis AG (NYSE:NVS)

Congress Wealth Management LLC DE lessened its holdings in Novartis AG (NYSE:NVS) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,029 shares of the company’s stock after selling 22,499 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Novartis were worth $4,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NVS. Centaurus Financial Inc. grew its stake in shares of Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after buying an additional 98 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after acquiring an additional 100 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after acquiring an additional 101 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Novartis by 2.6% during the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock valued at $405,000 after acquiring an additional 106 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its position in shares of Novartis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock worth $316,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $110.31 on Wednesday. The firm has a market capitalization of $225.47 billion, a P/E ratio of 18.76, a PEG ratio of 1.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The business has a fifty day moving average of $107.12 and a 200 day moving average of $107.24.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s payout ratio is presently 42.69%.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Morgan Stanley started coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average price target 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.