ProVise Management Group LLC Has $12.59 Million Stake in Novartis AG (NYSE:NVS)

ProVise Management Group LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,359 shares of the company’s stock after selling 2,531 shares during the period. ProVise Management Group LLC’s holdings in Novartis were worth $12,588,000 as of its most recent filing with the Securities and Exchange Commission.

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

Novartis Stock Performance

NYSE NVS opened at $112.23 on Wednesday. The firm’s fifty day moving average price is $105.92 and its two-hundred day moving average price is $107.48. The stock has a market cap of $229.39 billion, a PE ratio of 19.09, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a fifty-two week low of $92.35 and a fifty-two 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.

Novartis (NYSE:NVS) last posted its earnings results 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 Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is 42.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVS shares. Barclays reissued an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley started coverage on shares of Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.