Whittier Trust Co. Buys 5,073 Shares of Novartis AG (NYSE:NVS)

by · The Cerbat Gem

Whittier Trust Co. boosted its stake in Novartis AG (NYSE:NVS – Free Report) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,678 shares of the company’s stock after purchasing an additional 5,073 shares during the period. Whittier Trust Co.’s holdings in Novartis were worth $5,126,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Centaurus Financial Inc. raised its position in Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after acquiring an additional 98 shares during the period. Bryn Mawr Capital Management LLC raised its position in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after acquiring an additional 100 shares during the period. Rothschild Investment LLC raised its position in Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after acquiring an additional 101 shares during the period. Meridian Wealth Management LLC raised its position in Novartis by 2.6% in the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock worth $405,000 after acquiring an additional 106 shares during the period. Finally, Angeles Wealth Management LLC raised its position in Novartis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock worth $316,000 after acquiring an additional 110 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $113.35 on Friday. The company has a 50 day moving average of $106.41 and a 200 day moving average of $107.55. The stock has a market cap of $231.68 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.70 and a beta of 0.53. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48.

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 the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio is presently 42.69%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays reissued an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating on the stock. Finally, HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Three 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

Check Out Our Latest Stock Analysis on Novartis

Novartis Company Profile

(Free Report)

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.

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