Destination Wealth Management Raises Stake in Novartis AG (NVS)

Destination Wealth Management lifted its position in Novartis AG (NYSE:NVS) by 37.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 987 shares of the company’s stock after purchasing an additional 269 shares during the quarter. Destination Wealth Management’s holdings in Novartis were worth $85,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVS. Matthew Goff Investment Advisor LLC increased its holdings in shares of Novartis by 7,454.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 2,945,178 shares of the company’s stock worth $38,988,000 after purchasing an additional 2,906,190 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Novartis in the third quarter worth about $87,734,000. Eagle Asset Management Inc. increased its holdings in shares of Novartis by 5,739.0% in the third quarter. Eagle Asset Management Inc. now owns 843,622 shares of the company’s stock worth $72,686,000 after purchasing an additional 829,174 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Novartis by 29.3% in the third quarter. Janus Henderson Group PLC now owns 3,267,352 shares of the company’s stock worth $281,515,000 after purchasing an additional 741,373 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Novartis by 526.2% in the third quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock worth $54,780,000 after purchasing an additional 534,268 shares during the last quarter. 10.99% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on NVS. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Credit Suisse Group cut Novartis to a “sell” rating in a research note on Thursday, December 20th. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, December 18th. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price objective on shares of Novartis in a research note on Tuesday, December 11th. Finally, Barclays cut Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday, December 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $90.94.

Shares of NYSE NVS opened at $88.85 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. Novartis AG has a 1-year low of $72.30 and a 1-year high of $92.39. The company has a market cap of $204.67 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.93 and a beta of 0.69.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). The company had revenue of $13.27 billion for the quarter, compared to the consensus estimate of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, analysts predict that Novartis AG will post 5.43 EPS for the current fiscal year.

The firm also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th will be paid a dividend of $2.8646 per share. This is a boost from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend is Monday, March 4th. This represents a dividend yield of 3.27%. Novartis’s dividend payout ratio is currently 37.52%.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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