Y.D. More Investments Ltd Trims Stock Holdings in Novartis AG (NYSE:NVS)

Y.D. More Investments Ltd lowered its position in shares of Novartis AG (NYSE:NVS) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,070 shares of the company’s stock after selling 13,730 shares during the quarter. Y.D. More Investments Ltd’s holdings in Novartis were worth $3,036,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Aaron Wealth Advisors LLC raised its position in shares of Novartis by 21.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after purchasing an additional 1,050 shares during the last quarter. Syon Capital LLC purchased a new stake in shares of Novartis during the third quarter valued at approximately $6,568,000. Naviter Wealth LLC increased its position in shares of Novartis by 24.5% during the fourth quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after acquiring an additional 8,116 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Novartis by 368.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock worth $2,045,000 after acquiring an additional 15,927 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Novartis by 30.8% in the 4th quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock valued at $25,021,000 after acquiring an additional 58,395 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.4 %

Shares of NVS traded up $0.37 during trading hours on Wednesday, reaching $97.50. 1,138,069 shares of the company traded hands, compared to its average volume of 1,565,946. The stock’s fifty day moving average price is $97.69 and its 200 day moving average price is $98.98. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The firm has a market cap of $199.29 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.55 and a beta of 0.54. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). The company had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. During the same period in the prior year, the firm posted $1.51 EPS. Sell-side analysts forecast that Novartis AG will post 7.26 earnings per share for the current year.

Novartis Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were given a dividend of $3.7772 per share. This is an increase from Novartis’s previous annual dividend of $3.47. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 3.1%. Novartis’s dividend payout ratio is presently 32.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVS shares. BMO Capital Markets boosted their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Morgan Stanley began coverage on shares of Novartis in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 target price on the stock.

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.