Novartis AG (NVS) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. decreased its holdings in shares of Novartis AG (NYSE:NVS) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,376 shares of the company’s stock after selling 180 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Novartis were worth $289,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NVS. Naples Global Advisors LLC boosted its position in Novartis by 0.6% in the fourth quarter. Naples Global Advisors LLC now owns 20,599 shares of the company’s stock valued at $1,815,000 after buying an additional 115 shares during the last quarter. Financial Architects Inc boosted its position in Novartis by 0.8% in the fourth quarter. Financial Architects Inc now owns 15,015 shares of the company’s stock valued at $1,288,000 after buying an additional 125 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in Novartis by 3.2% in the fourth quarter. Carroll Financial Associates Inc. now owns 4,760 shares of the company’s stock valued at $404,000 after buying an additional 149 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its position in Novartis by 5.4% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 3,190 shares of the company’s stock valued at $274,000 after buying an additional 164 shares during the last quarter. Finally, Landmark Bank boosted its position in Novartis by 4.6% in the fourth quarter. Landmark Bank now owns 4,276 shares of the company’s stock valued at $367,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 10.99% of the company’s stock.

Novartis stock opened at $88.85 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.20. The company has a market capitalization 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 AG has a 12 month low of $72.30 and a 12 month high of $92.39.

Novartis (NYSE:NVS) last announced its earnings results 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 business had revenue of $13.27 billion for the quarter, compared to analyst estimates of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Sell-side analysts expect that Novartis AG will post 5.43 earnings per share for the current 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 represents a dividend yield of 3.27%. This is an increase from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend is Monday, March 4th. Novartis’s dividend payout ratio is presently 37.52%.

NVS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Wednesday, January 16th. Credit Suisse Group lowered Novartis to a “sell” rating in a research report on Thursday, December 20th. Wolfe Research initiated coverage on Novartis in a research report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Goldman Sachs Group upgraded Novartis from a “neutral” rating to a “conviction-buy” rating in a research report on Friday, November 16th. Finally, Cowen upgraded Novartis from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, November 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $90.94.

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Novartis Company 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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