Novartis AG (NYSE:NVS) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in Novartis AG (NYSE:NVS) by 8.2% in the fourth quarter, Holdings Channel reports. The firm owned 11,025,039 shares of the company’s stock after selling 983,016 shares during the quarter. Primecap Management Co. CA’s holdings in Novartis were worth $1,072,847,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in Novartis by 26.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock worth $8,668,000 after purchasing an additional 18,894 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Novartis by 20.1% in the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after acquiring an additional 5,164 shares during the period. Quantbot Technologies LP raised its holdings in shares of Novartis by 135.5% during the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after buying an additional 22,998 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Novartis during the fourth quarter valued at approximately $239,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Novartis by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock valued at $18,088,000 after buying an additional 18,990 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE NVS opened at $112.24 on Tuesday. The stock has a market capitalization of $229.41 billion, a P/E ratio of 19.09, a P/E/G 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 business’s fifty day moving average is $105.65 and its two-hundred day moving average is $107.54. 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 posted its quarterly 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%. On average, research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The company also recently disclosed 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 payout ratio is 42.69%.

Wall Street Analyst Weigh In

NVS has been the topic of a number of recent analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a 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. Morgan Stanley assumed coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.38.

About Novartis

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.