Rockefeller Capital Management L.P. Purchases 2,189 Shares of Novartis AG (NYSE:NVS)

Rockefeller Capital Management L.P. grew its holdings in shares of Novartis AG (NYSE:NVS) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,802 shares of the company’s stock after buying an additional 2,189 shares during the period. Rockefeller Capital Management L.P.’s holdings in Novartis were worth $10,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Human Investing LLC purchased a new stake in shares of Novartis in the fourth quarter worth $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis in the 4th quarter worth about $27,000. Kestra Investment Management LLC purchased a new stake in Novartis during the 4th quarter valued at about $47,000. Clearstead Trust LLC bought a new stake in Novartis during the 4th quarter valued at about $51,000. Finally, Brooklyn Investment Group purchased a new position in Novartis in the fourth quarter worth about $55,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 0.2 %

Shares of NYSE:NVS opened at $109.66 on Thursday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock has a market capitalization of $224.15 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.70 and a beta of 0.56. 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 stock’s 50-day simple moving average is $109.08 and its two-hundred day simple moving average is $106.38.

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 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%. Analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The business 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 of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Analysts Set New Price Targets

NVS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $123.38.

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.