Novartis AG (NYSE:NVS) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC decreased its stake in shares of Novartis AG (NYSE:NVS) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,161 shares of the company’s stock after selling 2,904 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Novartis were worth $4,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Bryn Mawr Capital Management LLC boosted its stake in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock valued at $1,254,000 after acquiring an additional 100 shares during the period. Rothschild Investment LLC boosted its position in Novartis by 0.6% during the 4th quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock valued at $1,623,000 after purchasing an additional 101 shares during the period. Meridian Wealth Management LLC boosted its position in Novartis by 2.6% during the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock valued at $405,000 after purchasing an additional 106 shares during the period. Angeles Wealth Management LLC boosted its position in Novartis by 3.5% during the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock valued at $316,000 after purchasing an additional 110 shares during the period. Finally, Heritage Family Offices LLP boosted its position in Novartis by 1.9% during the 4th quarter. Heritage Family Offices LLP now owns 6,107 shares of the company’s stock valued at $594,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They set an “underweight” rating for the company. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Finally, BNP Paribas upgraded Novartis to a “strong-buy” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average price target of $123.38.

Novartis Stock Performance

NVS stock opened at $108.68 on Monday. The company has a market capitalization of $229.58 billion, a P/E ratio of 18.48, a PEG ratio of 1.70 and a beta of 0.60. The company has a 50-day simple moving average of $110.25 and a 200 day simple moving average of $105.84. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week 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.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.16. The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.80 earnings per share. Sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 40.47%.

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.