Franklin Resources Inc. Cuts Stake in Novartis AG (NYSE:NVS)

Franklin Resources Inc. cut its position in Novartis AG (NYSE:NVS) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,355,598 shares of the company’s stock after selling 21,444 shares during the period. Franklin Resources Inc.’s holdings in Novartis were worth $423,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Novartis by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock valued at $18,088,000 after acquiring an additional 18,990 shares in the last quarter. FMR LLC raised its stake in shares of Novartis by 5.5% in the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock worth $155,669,000 after purchasing an additional 70,314 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Novartis by 6.4% during the third quarter. BNP Paribas Financial Markets now owns 25,890 shares of the company’s stock valued at $2,978,000 after purchasing an additional 1,552 shares in the last quarter. Aureus Asset Management LLC purchased a new stake in shares of Novartis during the third quarter valued at $222,000. Finally, Benjamin Edwards Inc. increased its holdings in Novartis by 90.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 45,491 shares of the company’s stock worth $5,239,000 after buying an additional 21,561 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.0 %

Shares of NVS stock opened at $111.48 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $227.87 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm has a fifty day moving average price of $108.20 and a 200-day moving average price of $107.10.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVS. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. UBS Group reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis 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.