Cerity Partners LLC Reduces Holdings in Novartis AG (NYSE:NVS)

Cerity Partners LLC lessened its position in Novartis AG (NYSE:NVS - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,489 shares of the company's stock after selling 4,999 shares during the quarter. Cerity Partners LLC's holdings in Novartis were worth $31,010,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Novartis by 35.6% in the 4th quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company's stock worth $41,176,000 after acquiring an additional 111,066 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Novartis by 26.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company's stock worth $8,668,000 after buying an additional 18,894 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company's stock valued at $3,001,000 after acquiring an additional 5,164 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Novartis in the fourth quarter worth $239,000. Finally, Arvest Bank Trust Division acquired a new stake in shares of Novartis during the third quarter worth $2,674,000. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Novartis stock traded up $1.66 during midday trading on Monday, reaching $109.18. The company had a trading volume of 605,428 shares, compared to its average volume of 1,549,727. The company has a market capitalization of $223.16 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.70 and a beta of 0.56. The firm's fifty day simple moving average is $108.96 and its 200-day simple moving average is $106.38. 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 current ratio of 1.04 and a quick ratio of 0.84.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, March 12th. Shareholders 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 payout ratio is currently 42.69%.

Wall Street Analyst Weigh In

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