New Vernon Capital Holdings II LLC Reduces Holdings in Novartis AG (NYSE:NVS)

New Vernon Capital Holdings II LLC lessened its stake in Novartis AG (NYSE:NVS - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,837 shares of the company's stock after selling 2,527 shares during the quarter. Novartis makes up 0.6% of New Vernon Capital Holdings II LLC's holdings, making the stock its 13th biggest position. New Vernon Capital Holdings II LLC's holdings in Novartis were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new stake in shares of Novartis in the fourth quarter valued at approximately $331,000. Voya Financial Advisors Inc. lifted its stake in Novartis by 5.4% during the fourth quarter. Voya Financial Advisors Inc. now owns 14,388 shares of the company's stock worth $1,400,000 after purchasing an additional 742 shares during the last quarter. Knightsbridge Asset Management LLC lifted its stake in Novartis by 13.5% during the fourth quarter. Knightsbridge Asset Management LLC now owns 3,851 shares of the company's stock worth $375,000 after purchasing an additional 457 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Novartis by 161.3% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 48,987 shares of the company's stock worth $4,767,000 after purchasing an additional 30,240 shares during the last quarter. Finally, Empire Financial Management Company LLC lifted its stake in Novartis by 6.3% during the fourth quarter. Empire Financial Management Company LLC now owns 15,273 shares of the company's stock worth $1,486,000 after purchasing an additional 899 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. UBS Group restated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Barclays restated an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They issued an "underweight" rating for the company. Finally, BNP Paribas upgraded Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Novartis presently has an average rating of "Hold" and a consensus target price of $123.38.

Novartis Trading Down 0.1 %

NVS traded down $0.13 during trading on Wednesday, hitting $113.32. The company's stock had a trading volume of 1,325,968 shares, compared to its average volume of 1,548,592. Novartis AG has a twelve month low of $96.06 and a twelve month high of $120.92. 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's fifty day moving average price is $109.91 and its 200-day moving average price is $106.13. The firm has a market capitalization of $239.38 billion, a P/E ratio of 19.27, a PEG ratio of 1.70 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.12 by $0.16. The firm had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. Novartis had a return on equity of 37.24% and a net margin of 23.56%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. Analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's dividend payout ratio (DPR) is currently 44.05%.

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.