Novartis AG (NYSE:NVS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 35.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,453 shares of the company's stock after selling 6,704 shares during the period. Synovus Financial Corp's holdings in Novartis were worth $1,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVS. Human Investing LLC bought a new position in Novartis during the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis in the fourth quarter worth about $27,000. Kestra Investment Management LLC acquired a new position in shares of Novartis in the fourth quarter valued at about $47,000. Clearstead Trust LLC purchased a new stake in shares of Novartis in the fourth quarter worth about $51,000. Finally, Brooklyn Investment Group purchased a new position in shares of Novartis in the 4th quarter valued at about $55,000. Institutional investors own 13.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVS shares. BNP Paribas upgraded Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. UBS Group reiterated a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. Barclays restated an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an "underweight" rating for the company. Finally, StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Novartis has an average rating of "Hold" and an average price target of $123.38.

Novartis Trading Up 0.1 %

NVS traded up $0.14 on Monday, hitting $111.00. The company had a trading volume of 208,094 shares, compared to its average volume of 2,313,269. Novartis AG has a 12-month low of $94.72 and a 12-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 business's fifty day simple moving average is $109.21 and its 200 day simple moving average is $106.22. The company has a market cap of $226.89 billion, a PE ratio of 18.88, 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 Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Equities research analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's payout ratio is currently 42.69%.

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.