Millstone Evans Group LLC Takes $305,000 Position in Novartis AG (NYSE:NVS)

Millstone Evans Group LLC purchased a new position in Novartis AG (NYSE:NVS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,132 shares of the company's stock, valued at approximately $305,000.

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

Analyst Ratings Changes

NVS has been the topic of a number of research analyst reports. HSBC downgraded Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. StockNews.com upgraded 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, Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an "underweight" rating for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Novartis presently has a consensus rating of "Hold" and a consensus price target of $123.38.

Remove Ads

Novartis Stock Performance

Shares of NYSE:NVS traded down $0.30 during mid-day trading on Wednesday, reaching $110.08. 1,904,125 shares of the company traded hands, compared to its average volume of 1,471,187. The company's 50 day moving average price is $107.12 and its 200-day moving average price is $107.24. The firm has a market cap of $225.00 billion, a PE ratio of 18.72, a PEG ratio of 1.70 and a beta of 0.53. 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 current ratio of 1.04 and a quick ratio of 0.84.

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

Novartis Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders 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 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.