Primecap Management Co. CA Sells 983,016 Shares of Novartis AG (NYSE:NVS)

Primecap Management Co. CA lessened its position in shares of Novartis AG (NYSE:NVS - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,025,039 shares of the company's stock after selling 983,016 shares during the quarter. Primecap Management Co. CA owned about 0.54% of Novartis worth $1,072,847,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NVS. Fisher Asset Management LLC boosted its holdings in Novartis by 17.4% during the fourth 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 during the last quarter. FMR LLC boosted its stake in Novartis by 5.5% during the 3rd quarter. FMR LLC now owns 1,353,412 shares of the company's stock worth $155,669,000 after acquiring an additional 70,314 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in Novartis by 4.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company's stock valued at $112,990,000 after purchasing an additional 52,044 shares during the period. Raymond James Financial Inc. bought a new stake in Novartis in the fourth quarter valued at approximately $88,339,000. Finally, Bank of Montreal Can grew its holdings in shares of Novartis by 18.7% in the 3rd quarter. Bank of Montreal Can now owns 780,980 shares of the company's stock valued at $90,289,000 after buying an additional 123,077 shares during the period. Institutional investors own 13.12% of the company's stock.

Novartis Stock Down 1.0 %

Shares of NYSE:NVS traded down $1.10 during midday trading on Friday, reaching $112.11. The company had a trading volume of 3,595,371 shares, compared to its average volume of 1,468,860. The business's 50 day moving average price is $106.41 and its 200 day moving average price is $107.55. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock has a market cap of $229.15 billion, a PE ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.53.

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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 return on equity of 37.24% and a net margin of 23.56%. Research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company 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 dividend payout ratio (DPR) is presently 42.69%.

Analyst Ratings Changes

NVS has been the topic of several recent analyst reports. UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They set an "underweight" rating on the stock. Finally, HSBC lowered shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 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 issued a strong buy rating to the company's stock. According to MarketBeat, Novartis has an average rating of "Hold" and a consensus 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.