Stonebridge Capital Management Inc. Decreases Stake in Novartis AG (NYSE:NVS)

Stonebridge Capital Management Inc. lowered its stake in Novartis AG (NYSE:NVS) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,515 shares of the company’s stock after selling 250 shares during the period. Stonebridge Capital Management Inc.’s holdings in Novartis were worth $2,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AXA S.A. acquired a new stake in shares of Novartis in the third quarter worth $134,000. UBS Asset Management Americas Inc. purchased a new position in Novartis in the third quarter valued at $517,000. ExodusPoint Capital Management LP purchased a new position in Novartis in the third quarter valued at $1,417,000. First City Capital Management Inc. increased its stake in shares of Novartis by 79.5% during the third quarter. First City Capital Management Inc. now owns 10,163 shares of the company’s stock worth $889,000 after purchasing an additional 4,501 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Novartis during the third quarter worth about $1,453,000. 9.86% of the stock is owned by institutional investors and hedge funds.

NVS traded up $0.71 on Thursday, reaching $87.01. 44,306 shares of the company’s stock were exchanged, compared to its average volume of 1,990,229. The stock has a market cap of $199.14 billion, a PE ratio of 27.93, a P/E/G ratio of 1.76 and a beta of 0.59. Novartis AG has a twelve month low of $77.04 and a twelve month high of $98.52. The stock’s fifty day moving average price is $86.31 and its 200-day moving average price is $88.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Monday, January 25th. The company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). The business had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.86 billion. Novartis had a return on equity of 24.39% and a net margin of 14.71%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, research analysts predict that Novartis AG will post 5.8 earnings per share for the current fiscal year.

The company also recently announced an annual dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, March 5th were issued a $3.3784 dividend. This represents a yield of 2.2%. This is a positive change from Novartis’s previous annual dividend of $3.04. The ex-dividend date of this dividend was Thursday, March 4th. Novartis’s payout ratio is presently 39.69%.

A number of analysts have recently commented on NVS shares. Argus reissued a “hold” rating on shares of Novartis in a research note on Tuesday, March 16th. Sanford C. Bernstein started coverage on shares of Novartis in a research note on Monday, March 22nd. They set a “market perform” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a research note on Tuesday, February 2nd. Cowen cut shares of Novartis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $110.00 to $105.00 in a research note on Monday, February 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Novartis in a research note on Friday, January 15th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $108.50.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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