Novartis AG (NYSE:NVS) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its position in Novartis AG (NYSE:NVS) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 30,060 shares of the company’s stock after selling 2,625 shares during the period. Patten & Patten Inc. TN’s holdings in Novartis were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. grew its stake in Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after purchasing an additional 98 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its holdings in shares of Novartis by 0.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after purchasing an additional 100 shares during the period. Rothschild Investment LLC boosted its position in Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock valued at $1,623,000 after buying an additional 101 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Novartis by 2.6% in the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock worth $405,000 after buying an additional 106 shares during the period. Finally, Angeles Wealth Management LLC raised its position in Novartis by 3.5% during the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock worth $316,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. Barclays restated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Finally, HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

NYSE NVS opened at $109.15 on Friday. The stock has a market capitalization of $223.10 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.70 and a beta of 0.53. The stock has a 50-day moving average of $105.36 and a 200 day moving average of $107.68. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders 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 payout ratio is 42.69%.

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.