Novartis AG (NYSE:NVS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Novartis AG (NYSE:NVS) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,647,861 shares of the company’s stock after selling 351,314 shares during the quarter. Wellington Management Group LLP’s holdings in Novartis were worth $354,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in shares of Novartis by 17.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock worth $194,908,000 after acquiring an additional 296,950 shares in the last quarter. FMR LLC raised its position in shares of Novartis by 5.5% in the 3rd quarter. FMR LLC now owns 1,353,412 shares of the company’s stock valued at $155,669,000 after purchasing an additional 70,314 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in shares of Novartis by 4.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock valued at $112,990,000 after buying an additional 52,044 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Novartis during the fourth quarter worth approximately $88,339,000. Finally, Truist Financial Corp grew its position in shares of Novartis by 3.6% during the fourth quarter. Truist Financial Corp now owns 771,655 shares of the company’s stock worth $75,090,000 after buying an additional 27,092 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NVS stock opened at $109.49 on Wednesday. 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 business has a 50 day moving average of $108.40 and a two-hundred day moving average of $107.06. The company has a market cap of $223.80 billion, a P/E ratio of 18.62, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings data 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%. As a group, analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVS. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. UBS Group restated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.