Novartis AG (NYSE:NVS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,453 shares of the company's stock after selling 6,704 shares during the quarter. Synovus Financial Corp's holdings in Novartis were worth $1,213,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Novartis in the 3rd quarter worth approximately $427,000. World Investment Advisors LLC bought a new stake in shares of Novartis during the 3rd quarter valued at about $3,873,000. Arvest Bank Trust Division purchased a new stake in Novartis during the third quarter valued at approximately $2,674,000. Wilmington Savings Fund Society FSB raised its holdings in Novartis by 263.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 41,404 shares of the company's stock worth $4,762,000 after purchasing an additional 30,016 shares during the period. Finally, Optimist Retirement Group LLC lifted its position in shares of Novartis by 0.9% during the 3rd quarter. Optimist Retirement Group LLC now owns 19,313 shares of the company's stock valued at $2,221,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Up 1.0 %

Shares of NVS stock traded up $1.11 during trading on Friday, reaching $110.69. The company's stock had a trading volume of 1,577,944 shares, compared to its average volume of 1,561,026. 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 AG has a 1-year low of $93.15 and a 1-year high of $120.92. The company has a market capitalization of $226.26 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.70 and a beta of 0.56. The stock's 50-day moving average price is $109.21 and its 200 day moving average price is $106.33.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $1.98 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, research analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent analyst reports. StockNews.com upgraded shares of Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. BNP Paribas raised Novartis to a "strong-buy" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. UBS Group reiterated a "neutral" rating on shares of Novartis in a research report on Thursday, February 13th. Finally, Morgan Stanley began coverage on Novartis in a research note on Wednesday, February 12th. They issued an "underweight" rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $123.38.

Novartis Company 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.