Sterling Capital Management LLC Decreases Position in Novartis AG (NYSE:NVS)

Sterling Capital Management LLC cut its holdings in Novartis AG (NYSE:NVS) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,852 shares of the company’s stock after selling 1,358 shares during the period. Sterling Capital Management LLC’s holdings in Novartis were worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Novartis by 16.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock valued at $259,706,000 after acquiring an additional 368,171 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Novartis by 17.4% during the fourth 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 period. Chevy Chase Trust Holdings LLC grew its holdings in shares of Novartis by 4.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 1,161,139 shares of the company’s stock worth $112,990,000 after purchasing an additional 52,044 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Novartis in the fourth quarter worth $88,339,000. Finally, Truist Financial Corp raised its holdings in Novartis by 3.6% during the 4th quarter. Truist Financial Corp now owns 771,655 shares of the company’s stock valued at $75,090,000 after buying an additional 27,092 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NVS stock opened at $109.84 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average price is $109.01 and its 200-day moving average price is $106.36. The stock has a market cap of $224.52 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, March 12th. Shareholders 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 (DPR) is 42.69%.

Analyst Ratings Changes

Several analysts recently issued reports on NVS shares. Morgan Stanley began coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.