Pinnacle Associates Ltd. trimmed its position in Novartis AG (NYSE:NVS) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,776 shares of the company’s stock after selling 808 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Novartis were worth $6,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NVS. Advisors Asset Management Inc. increased its holdings in Novartis by 2.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 112,080 shares of the company’s stock worth $8,467,000 after acquiring an additional 2,803 shares in the last quarter. Bank of Montreal Can increased its holdings in Novartis by 0.8% in the 3rd quarter. Bank of Montreal Can now owns 168,393 shares of the company’s stock worth $14,509,000 after acquiring an additional 1,267 shares in the last quarter. Delaney Dennis R increased its holdings in Novartis by 4.8% in the 3rd quarter. Delaney Dennis R now owns 25,490 shares of the company’s stock worth $2,196,000 after acquiring an additional 1,170 shares in the last quarter. Somerville Kurt F increased its holdings in Novartis by 1.8% in the 3rd quarter. Somerville Kurt F now owns 178,301 shares of the company’s stock worth $15,363,000 after acquiring an additional 3,086 shares in the last quarter. Finally, Puzo Michael J increased its holdings in Novartis by 1.8% in the 3rd quarter. Puzo Michael J now owns 96,062 shares of the company’s stock worth $8,278,000 after acquiring an additional 1,721 shares in the last quarter. 10.99% of the stock is owned by institutional investors.

Several research firms recently issued reports on NVS. Credit Suisse Group lowered shares of Novartis to a “sell” rating in a report on Thursday, December 20th. JPMorgan Chase & Co. lowered shares of Novartis from a “neutral” rating to an “underweight” rating in a report on Wednesday, January 2nd. Wolfe Research began coverage on shares of Novartis in a report on Tuesday, October 23rd. They set an “outperform” rating for the company. Goldman Sachs Group raised shares of Novartis from a “neutral” rating to a “conviction-buy” rating in a report on Friday, November 16th. Finally, Cowen raised shares of Novartis from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, November 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Novartis currently has an average rating of “Hold” and a consensus target price of $90.94.

Shares of NVS opened at $88.85 on Monday. The firm has a market capitalization of $205.24 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.93 and a beta of 0.69. Novartis AG has a 52-week low of $72.30 and a 52-week high of $92.39. The company has a quick ratio of 0.97, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.09). The company had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 5.43 earnings per share for the current fiscal year.

The firm also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th will be given a dividend of $2.8646 per share. This represents a dividend yield of 3.27%. This is an increase from Novartis’s previous annual dividend of $2.33. The ex-dividend date is Monday, March 4th. Novartis’s dividend payout ratio (DPR) is 37.52%.

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About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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