Cullen Frost Bankers Inc. lessened its stake in shares of Novartis AG (NYSE:NVS) by 27.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 174,086 shares of the company’s stock after selling 65,401 shares during the period. Cullen Frost Bankers Inc.’s holdings in Novartis were worth $14,938,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Raymond James Trust N.A. lifted its position in shares of Novartis by 41.8% during the 3rd quarter. Raymond James Trust N.A. now owns 47,271 shares of the company’s stock valued at $4,072,000 after acquiring an additional 13,938 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in shares of Novartis by 5.3% during the 3rd quarter. Bourgeon Capital Management LLC now owns 69,463 shares of the company’s stock valued at $5,985,000 after acquiring an additional 3,490 shares during the last quarter. Ipswich Investment Management Co. Inc. lifted its position in shares of Novartis by 17.0% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 29,463 shares of the company’s stock valued at $2,528,000 after acquiring an additional 4,278 shares during the last quarter. Patton Albertson Miller Group LLC acquired a new stake in shares of Novartis during the 3rd quarter valued at $211,000. Finally, Blair William & Co. IL lifted its position in shares of Novartis by 0.8% during the 3rd quarter. Blair William & Co. IL now owns 174,778 shares of the company’s stock valued at $15,059,000 after acquiring an additional 1,463 shares during the last quarter. Institutional investors own 10.99% of the company’s stock.
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NVS opened at $89.02 on Friday. The firm has a market capitalization of $205.20 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.69. Novartis AG has a 12-month low of $72.30 and a 12-month high of $92.39. The company has a quick ratio of 0.97, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.
Novartis (NYSE:NVS) last released its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.09). The business had revenue of $13.27 billion during the quarter, compared to analysts’ expectations of $13.33 billion. Novartis had a net margin of 24.30% and a return on equity of 15.66%. Novartis’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 EPS. Sell-side analysts anticipate that Novartis AG will post 5.43 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th will be issued a $2.8646 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a dividend yield of 3.27%. This is a positive change from Novartis’s previous annual dividend of $2.33. Novartis’s dividend payout ratio is presently 37.52%.
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Credit Suisse Group lowered Novartis to a “sell” rating in a report on Thursday, December 20th. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, December 18th. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Novartis in a report on Tuesday, December 11th. Finally, Barclays lowered Novartis from an “equal weight” rating to a “sell” rating in a report on Friday, December 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $90.94.
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Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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