Novartis AG (NYSE:NVS) Shares Sold by SouthState Corp

SouthState Corp lowered its position in Novartis AG (NYSE:NVS) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,966 shares of the company’s stock after selling 429 shares during the quarter. SouthState Corp’s holdings in Novartis were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in Novartis during the 3rd quarter worth approximately $317,000. Claro Advisors LLC acquired a new stake in shares of Novartis in the third quarter worth $533,000. Nixon Peabody Trust Co. increased its position in shares of Novartis by 1.1% in the third quarter. Nixon Peabody Trust Co. now owns 121,770 shares of the company’s stock worth $14,006,000 after acquiring an additional 1,294 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Novartis by 18.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,944 shares of the company’s stock valued at $339,000 after acquiring an additional 454 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Novartis by 24.7% during the 3rd quarter. West Family Investments Inc. now owns 9,739 shares of the company’s stock worth $1,120,000 after purchasing an additional 1,927 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Trading Up 2.9 %

NYSE NVS opened at $112.24 on Tuesday. The company has a market capitalization of $229.41 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company’s fifty day moving average price is $105.65 and its two-hundred day moving average price is $107.54.

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

Novartis Announces Dividend

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

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.