19,772 Shares in Novartis AG (NYSE:NVS) Purchased by Massachusetts Financial Services Co. MA
Massachusetts Financial Services Co. MA acquired 19,772 shares of Novartis AG (NYSE:NVS) valued at approximately $1.9 million during Q4, as per its Form 13F filing with the SEC. Other institutional investors also increased their stakes in Novartis. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $123.38. Novartis reported earnings of $1.98 per share, exceeding estimates, and recently paid a dividend of $3.8695.
Massachusetts Financial Services Co. MA bought a new position in shares of Novartis AG (NYSE:NVS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,772 shares of the company's stock, valued at approximately $1,924,000.
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Other hedge funds and other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC grew its position in Novartis by 44.9% in the 3rd quarter. IHT Wealth Management LLC now owns 3,216 shares of the company's stock valued at $369,000 after buying an additional 996 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Novartis by 15.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 13,630 shares of the company's stock worth $1,568,000 after buying an additional 1,837 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Novartis by 3.4% during the third quarter. Orion Portfolio Solutions LLC now owns 32,423 shares of the company's stock valued at $3,729,000 after acquiring an additional 1,079 shares during the period. MML Investors Services LLC lifted its position in shares of Novartis by 9.1% in the 3rd quarter. MML Investors Services LLC now owns 129,201 shares of the company's stock valued at $14,861,000 after acquiring an additional 10,763 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its position in shares of Novartis by 13.9% in the third quarter. Cape Cod Five Cents Savings Bank now owns 3,346 shares of the company's stock worth $356,000 after buying an additional 409 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Novartis in a report on Wednesday, February 12th. They set an "underweight" rating for the company. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Finally, Barclays reissued an "underweight" rating on shares of Novartis in a 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.38.
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Read Our Latest Stock Analysis on Novartis
Novartis Stock Performance
NYSE:NVS opened at $101.80 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 stock has a market cap of $208.08 billion, a P/E ratio of 17.31, a PEG ratio of 1.70 and a beta of 0.56. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a 50 day simple moving average of $108.98 and a 200 day simple moving average of $106.70.
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Novartis (NYSE:NVS - Get Free Report) last issued 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 return on equity of 37.24% and a net margin of 23.56%. Research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.
Novartis Announces Dividend
The business 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 currently 42.69%.
Novartis Profile
(Free Report)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.
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Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS - Free Report).
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