Hemenway Trust Co LLC Sells 4,335 Shares of Novartis AG (NYSE:NVS)

Hemenway Trust Co LLC reduced its holdings in Novartis AG (NYSE:NVS - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,854 shares of the company's stock after selling 4,335 shares during the quarter. Hemenway Trust Co LLC's holdings in Novartis were worth $667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Human Investing LLC purchased a new position in Novartis during the 4th quarter valued at $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis in the fourth quarter worth about $27,000. Legacy Investment Solutions LLC purchased a new stake in Novartis in the third quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in Novartis during the 4th quarter valued at approximately $47,000. Finally, Clearstead Trust LLC purchased a new position in shares of Novartis during the 4th quarter worth approximately $51,000. Institutional investors own 13.12% of the company's stock.

Novartis Stock Performance

Shares of NYSE:NVS traded up $0.05 during trading on Thursday, hitting $103.90. The company's stock had a trading volume of 1,930,215 shares, compared to its average volume of 1,538,501. The company has a 50-day moving average of $108.95 and a 200-day moving average of $106.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market cap of $212.38 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.70 and a beta of 0.56. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last issued 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%. On average, sell-side analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's payout ratio is currently 42.69%.

Wall Street Analyst Weigh In

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