Oppenheimer & Co. Inc. Reduces Position in Novartis AG $NVS

Key Points

• Oppenheimer & Co. reduced its Novartis position by 39.7% in Q4, selling 14,618 shares and retaining 22,226 shares worth about $3.06 million per its SEC filing.
• Novartis reported quarterly EPS of $1.99, missing estimates of $2.11 while revenue was $13.52 billion (slightly above estimates) and down 0.9% year‑over‑year; the company has a market cap of about $279.9 billion and a P/E of 21.01.
• Analysts are split—seven Buy, seven Hold and two Sell—with a consensus rating of Hold and a consensus price target of $141.20, and Novartis recently paid an annual dividend of $4.773 (DPR ~44%).

Oppenheimer & Co. Inc. lessened its position in shares of Novartis AG (NYSE:NVS - Free Report) by 39.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,226 shares of the company's stock after selling 14,618 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Novartis were worth $3,064,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVS. Brighton Jones LLC grew its stake in Novartis by 76.5% during the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after buying an additional 2,666 shares during the last quarter. AQR Capital Management LLC grew its stake in Novartis by 102.8% during the 1st quarter. AQR Capital Management LLC now owns 22,573 shares of the company's stock worth $2,516,000 after buying an additional 11,444 shares during the last quarter. Empowered Funds LLC purchased a new position in Novartis during the 1st quarter worth approximately $1,764,000. Sivia Capital Partners LLC grew its stake in Novartis by 48.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company's stock worth $963,000 after buying an additional 2,581 shares during the last quarter. Finally, Schnieders Capital Management LLC. purchased a new position in Novartis during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $146.67 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. The company has a market cap of $279.86 billion, a P/E ratio of 21.01, a PEG ratio of 2.56 and a beta of 0.46. Novartis AG has a 52 week low of $104.93 and a 52 week high of $170.46. The company has a 50-day moving average price of $154.29 and a 200 day moving average price of $143.98.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.99 EPS for the quarter, missing analysts' consensus estimates of $2.11 by ($0.12). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. Novartis's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.28 EPS. Research analysts predict that Novartis AG will post 8.9 earnings per share for the current year.

Novartis Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 11th were given a $4.773 dividend. The ex-dividend date was Wednesday, March 11th. This represents a yield of 306.0%. Novartis's dividend payout ratio (DPR) is presently 44.13%.

Analysts Set New Price Targets

NVS has been the topic of a number of research reports. TD Cowen restated a "hold" rating on shares of Novartis in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Novartis from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Sanford C. Bernstein upgraded shares of Novartis to a "hold" rating in a research note on Thursday, March 19th. Finally, Citigroup reiterated a "buy" rating on shares of Novartis in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Novartis currently has an average rating of "Hold" and a consensus target price of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

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