Novartis AG (NYSE:NVS) Holdings Decreased by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. cut its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,683 shares of the company's stock after selling 6,761 shares during the quarter. Novartis makes up approximately 1.0% of Edgemoor Investment Advisors Inc.'s holdings, making the stock its 25th biggest position. Edgemoor Investment Advisors Inc.'s holdings in Novartis were worth $11,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Human Investing LLC bought a new position in shares of Novartis during the fourth quarter worth $25,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis during the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new position in shares of Novartis during the 3rd quarter valued at approximately $28,000. Kestra Investment Management LLC bought a new position in Novartis during the fourth quarter valued at $47,000. Finally, Clearstead Trust LLC bought a new stake in Novartis in the fourth quarter worth about $51,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NVS shares. UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. HSBC downgraded Novartis from a "hold" rating to a "reduce" rating in a research report on Wednesday, December 4th. Barclays reiterated an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. Finally, Morgan Stanley assumed coverage on shares of Novartis in a research note on Wednesday, February 12th. They issued an "underweight" rating for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $123.38.

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Novartis Stock Performance

Novartis stock traded down $1.10 during trading hours on Friday, reaching $112.11. 3,595,371 shares of the stock were exchanged, compared to its average volume of 1,468,861. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. 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's 50 day moving average is $106.41 and its 200 day moving average is $107.55. The stock has a market cap of $229.15 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating 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%. Analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's dividend payout ratio (DPR) is presently 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.