Fmr LLC Lowers Stock Holdings in Novartis AG (NYSE:NVS)

FMR LLC cut its stake in Novartis AG (NYSE:NVS - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,317,458 shares of the company's stock after selling 35,954 shares during the period. FMR LLC owned about 0.06% of Novartis worth $128,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Novartis in the 4th quarter valued at $88,339,000. Fisher Asset Management LLC grew its position in shares of Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company's stock worth $194,908,000 after buying an additional 296,950 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novartis by 128.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company's stock worth $51,554,000 after acquiring an additional 296,890 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Novartis in the fourth quarter worth $225,000. Finally, ABC Arbitrage SA purchased a new stake in shares of Novartis during the 4th quarter valued at $19,795,000. Institutional investors own 13.12% of the company's stock.

Analysts Set New Price Targets

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

Novartis Trading Up 1.0 %

Shares of NVS traded up $1.11 during midday trading on Friday, reaching $110.69. The company had a trading volume of 1,577,944 shares, compared to its average volume of 1,561,026. The firm has a 50 day simple moving average of $109.21 and a 200-day simple moving average of $106.33. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock has a market cap of $226.26 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. Novartis AG has a 1-year low of $93.15 and a 1-year high of $120.92.

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

Novartis Dividend Announcement

The business also recently announced 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 currently 42.69%.

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.