Wells Fargo & Company MN Decreases Stake in Novartis AG (NYSE:NVS)

Wells Fargo & Company MN lessened its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,897,571 shares of the company's stock after selling 86,276 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of Novartis worth $184,653,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Novartis in the fourth quarter valued at approximately $88,339,000. Fisher Asset Management LLC lifted its holdings in shares of Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company's stock worth $194,908,000 after purchasing an additional 296,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company's stock valued at $51,554,000 after purchasing an additional 296,890 shares during the period. World Investment Advisors LLC bought a new stake in Novartis during the 3rd quarter valued at $30,063,000. Finally, Proficio Capital Partners LLC acquired a new position in Novartis during the fourth quarter worth $225,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NVS stock traded up $4.14 during midday trading on Friday, hitting $107.54. The company's stock had a trading volume of 4,745,829 shares, compared to its average volume of 1,555,257. The stock has a market cap of $219.82 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.70 and a beta of 0.56. 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's 50-day moving average price is $108.96 and its 200 day moving average price is $106.44. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last released 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 return on equity of 37.24% and a net margin of 23.56%. On average, equities analysts forecast 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 payout ratio is currently 42.69%.

Analyst Ratings Changes

Several research firms have recently commented on NVS. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. Barclays reissued an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. UBS Group restated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Finally, Morgan Stanley assumed coverage on Novartis in a research note on Wednesday, February 12th. They set 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 one has given a strong buy rating to the company. According to data from MarketBeat.com, Novartis presently has an average 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.