Summit Global Investments Acquires Shares of 36,154 Novartis AG (NYSE:NVS)

Summit Global Investments purchased a new stake in shares of Novartis AG (NYSE:NVS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,154 shares of the company's stock, valued at approximately $3,518,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC grew its holdings in Novartis by 18.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,944 shares of the company's stock valued at $339,000 after buying an additional 454 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of Novartis by 9.7% in the third quarter. King Luther Capital Management Corp now owns 10,442 shares of the company's stock valued at $1,201,000 after acquiring an additional 919 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Novartis by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company's stock worth $18,088,000 after acquiring an additional 18,990 shares during the last quarter. Raymond James Trust N.A. increased its position in Novartis by 6.7% during the third quarter. Raymond James Trust N.A. now owns 15,384 shares of the company's stock worth $1,769,000 after acquiring an additional 963 shares during the period. Finally, Citigroup Inc. raised its stake in Novartis by 17.0% during the 3rd quarter. Citigroup Inc. now owns 294,178 shares of the company's stock valued at $33,836,000 after purchasing an additional 42,642 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

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Novartis Price Performance

Shares of NVS stock traded down $0.30 during trading hours on Wednesday, hitting $110.08. The company had a trading volume of 1,904,125 shares, compared to its average volume of 1,471,187. 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 market capitalization of $225.00 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm's fifty day moving average is $107.12 and its 200 day moving average is $107.24.

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

Novartis Dividend Announcement

The company 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 is currently 42.69%.

Wall Street Analyst Weigh In

Several analysts have issued reports on NVS shares. HSBC lowered shares of Novartis from a "hold" rating to a "reduce" rating in a research report on Wednesday, December 4th. Barclays reissued an "underweight" rating on shares of Novartis in a research report on Monday, February 3rd. UBS Group restated 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 report on Tuesday, February 4th. Finally, StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $123.38.

Novartis Company 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.