Cresset Asset Management LLC Sells 41,353 Shares of Novartis AG (NYSE:NVS)

Cresset Asset Management LLC cut its position in Novartis AG (NYSE:NVS - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,785 shares of the company's stock after selling 41,353 shares during the period. Cresset Asset Management LLC's holdings in Novartis were worth $3,580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. Human Investing LLC acquired a new position in Novartis in the fourth quarter valued at about $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at about $27,000. Bellwether Advisors LLC acquired a new position in shares of Novartis in the 4th quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new stake in Novartis during the 4th quarter worth approximately $47,000. Finally, Clearstead Trust LLC acquired a new stake in Novartis during the 4th quarter worth approximately $51,000. 13.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays reaffirmed an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Morgan Stanley began coverage on Novartis in a report on Wednesday, February 12th. They set an "underweight" rating for the company. UBS Group restated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Finally, StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $123.38.

Novartis Stock Down 1.9%

Shares of NYSE NVS traded down $2.10 during mid-day trading on Tuesday, hitting $106.85. The company had a trading volume of 1,750,798 shares, compared to its average volume of 1,574,845. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $110.19 and a two-hundred day simple moving average of $105.81. The company has a market capitalization of $225.71 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. Novartis AG has a one year low of $96.06 and a one year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share 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 during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned $1.80 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's dividend payout ratio is currently 40.47%.

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.