Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Novartis AG (NYSE:NVS)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 95.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,433 shares of the company's stock after selling 182,884 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Novartis were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Novartis during the fourth quarter worth about $88,339,000. Fisher Asset Management LLC grew its stake in Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company's stock worth $194,908,000 after buying an additional 296,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company's stock worth $51,554,000 after buying an additional 296,890 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Novartis in the 3rd quarter worth $30,063,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Novartis during the 4th quarter valued at $225,000. Institutional investors own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVS shares. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They issued an "underweight" rating for the company. Barclays reaffirmed an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. StockNews.com raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. UBS Group restated a "neutral" rating on shares of Novartis in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis presently has a consensus rating of "Hold" and a consensus price target of $123.38.

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Novartis Trading Down 0.7 %

NYSE NVS traded down $0.78 during trading on Tuesday, hitting $110.31. The company had a trading volume of 2,577,402 shares, compared to its average volume of 1,474,392. The company's fifty day moving average is $106.91 and its 200-day moving average is $107.29. The company has a market cap of $225.47 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a one year low of $92.35 and a one year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results 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 earnings per share for the current year.

Novartis Announces Dividend

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

Novartis 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.