Congress Wealth Management LLC DE Sells 22,499 Shares of Novartis AG (NYSE:NVS)

Congress Wealth Management LLC DE cut its position in shares of Novartis AG (NYSE:NVS) by 34.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,029 shares of the company’s stock after selling 22,499 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Novartis were worth $4,090,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVS. Raymond James Financial Inc. bought a new position in Novartis during the fourth quarter valued at approximately $88,339,000. Fisher Asset Management LLC grew its holdings in shares of Novartis by 17.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after purchasing an additional 296,950 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock worth $51,554,000 after purchasing an additional 296,890 shares during the period. World Investment Advisors LLC bought a new stake in Novartis in the third quarter worth $30,063,000. Finally, Proficio Capital Partners LLC purchased a new stake in Novartis during the fourth quarter valued at about $225,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE:NVS opened at $110.31 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $107.12 and its 200 day simple moving average is $107.24. The stock has a market cap of $225.47 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. 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, beating analysts’ consensus estimates 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 EPS for the current year.

Novartis Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVS has been the topic of several analyst reports. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.38.

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.