Somerville Kurt F Sells 7,980 Shares of Novartis AG (NYSE:NVS)

Somerville Kurt F reduced its position in Novartis AG (NYSE:NVS - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,128 shares of the company's stock after selling 7,980 shares during the period. Somerville Kurt F's holdings in Novartis were worth $1,667,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Human Investing LLC acquired a new position in Novartis during the fourth quarter valued at $25,000. Union Bancaire Privee UBP SA purchased a new position in Novartis during the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter valued at about $28,000. Kestra Investment Management LLC purchased a new stake in shares of Novartis in the fourth quarter worth approximately $47,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Novartis during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Down 2.8 %

Novartis stock traded down $2.93 during mid-day trading on Monday, hitting $102.92. 3,359,475 shares of the company's stock were exchanged, compared to its average volume of 1,523,525. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a 50 day moving average of $109.02 and a two-hundred day moving average of $106.92. The stock has a market cap of $210.37 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.70 and a beta of 0.56. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48.

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Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating 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%. As a group, analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Announces Dividend

The company also recently declared 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 is 42.69%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVS. Barclays reiterated an "underweight" rating on shares of Novartis in a research note 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. Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They set an "underweight" rating for the company. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Finally, UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.