Bahl & Gaynor Inc. Sells 271 Shares of Novartis AG (NYSE:NVS)

Bahl & Gaynor Inc. trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,818 shares of the company’s stock after selling 271 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Novartis were worth $10,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Aaron Wealth Advisors LLC increased its stake in shares of Novartis by 9.2% during the third quarter. Aaron Wealth Advisors LLC now owns 4,854 shares of the company’s stock valued at $494,000 after buying an additional 408 shares during the period. HWG Holdings LP increased its stake in shares of Novartis by 5.6% during the third quarter. HWG Holdings LP now owns 2,418 shares of the company’s stock valued at $246,000 after buying an additional 128 shares during the period. Simplicity Solutions LLC increased its stake in shares of Novartis by 0.8% during the third quarter. Simplicity Solutions LLC now owns 44,965 shares of the company’s stock valued at $4,580,000 after buying an additional 342 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Novartis by 32.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,223 shares of the company’s stock valued at $532,000 after buying an additional 1,291 shares during the period. Finally, Connecticut Wealth Management LLC purchased a new position in shares of Novartis during the third quarter valued at $242,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Down 1.6 %

NVS traded down $1.62 on Friday, hitting $97.44. The company had a trading volume of 1,562,845 shares, compared to its average volume of 1,561,829. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.90. The stock has a market capitalization of $199.17 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.58 and a beta of 0.54. The stock has a fifty day moving average price of $97.87 and a 200-day moving average price of $98.99. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). The business had revenue of $11.42 billion during the quarter, compared to analyst estimates of $11.69 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. During the same period in the prior year, the business posted $1.51 EPS. Analysts predict that Novartis AG will post 7.22 EPS for the current fiscal year.

Novartis Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were issued a $3.7772 dividend. This represents a yield of 3.1%. The ex-dividend date was Thursday, March 7th. This is an increase from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio (DPR) is currently 32.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley assumed coverage on Novartis in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price target on the stock. BMO Capital Markets lifted their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

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.