Reynders McVeigh Capital Management LLC Sells 6,985 Shares of Novartis AG (NYSE:NVS)

Reynders McVeigh Capital Management LLC decreased its position in shares of Novartis AG (NYSE:NVS - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,099 shares of the company's stock after selling 6,985 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Novartis were worth $9,935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Novartis during the 3rd quarter valued at approximately $427,000. Sanctuary Advisors LLC raised its position in Novartis by 14.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 93,276 shares of the company's stock worth $10,729,000 after purchasing an additional 12,118 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Novartis in the third quarter worth approximately $3,873,000. Arvest Bank Trust Division bought a new position in Novartis during the third quarter worth $2,674,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in Novartis by 263.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 41,404 shares of the company's stock worth $4,762,000 after acquiring an additional 30,016 shares during the period. Institutional investors own 13.12% of the company's stock.

Novartis Stock Performance

NYSE:NVS traded up $1.11 during trading on Friday, reaching $110.69. The company's stock had a trading volume of 1,577,944 shares, compared to its average volume of 1,559,008. The firm has a market cap of $226.26 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a 50 day moving average of $109.15 and a 200-day moving average of $106.35.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating 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 expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were issued a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's dividend payout ratio (DPR) is currently 42.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Novartis in a research note on Wednesday, February 12th. They set an "underweight" rating for the company. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Finally, Barclays reissued an "underweight" rating on shares of Novartis in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.