Holderness Investments Co. Has $1.07 Million Holdings in Novartis AG (NYSE:NVS)

Holderness Investments Co. lifted its holdings in Novartis AG (NYSE:NVS) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,006 shares of the company’s stock after purchasing an additional 392 shares during the period. Holderness Investments Co.’s holdings in Novartis were worth $1,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis in the 3rd quarter valued at $28,000. Human Investing LLC acquired a new stake in shares of Novartis in the 4th quarter valued at $25,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis in the 4th quarter valued at $27,000. Kestra Investment Management LLC acquired a new position in Novartis during the 4th quarter worth $47,000. Finally, Clearstead Trust LLC acquired a new position in Novartis during the 4th quarter worth $51,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, Barclays reissued an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Three equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

NYSE:NVS opened at $113.35 on Friday. The firm’s 50-day moving average is $106.41 and its 200-day moving average is $107.55. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market cap of $231.68 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (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%. Equities research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

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

About Novartis

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.