Allen Wealth Management LLC Sells 414 Shares of Novartis AG (NYSE:NVS)

Allen Wealth Management LLC cut its position in Novartis AG (NYSE:NVS) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,374 shares of the company’s stock after selling 414 shares during the period. Allen Wealth Management LLC’s holdings in Novartis were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Human Investing LLC acquired a new stake in shares of Novartis during the fourth quarter worth $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis during the fourth quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new stake in Novartis in the 3rd quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in Novartis in the 4th quarter valued at about $47,000. Finally, Clearstead Trust LLC acquired a new position in shares of Novartis during the 4th quarter worth approximately $51,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVS has been the subject of a number of analyst reports. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Morgan Stanley assumed coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Finally, HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.38.

Novartis Stock Performance

Novartis stock opened at $110.81 on Thursday. The stock has a market cap of $226.50 billion, a PE ratio of 18.85, a P/E/G 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. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The business’s 50-day moving average price is $108.65 and its two-hundred day moving average price is $107.09.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

About Novartis

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.