HighTower Advisors LLC Has $22.90 Million Position in Novartis AG (NYSE:NVS)

HighTower Advisors LLC lessened its stake in Novartis AG (NYSE:NVS) by 19.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 235,353 shares of the company’s stock after selling 55,507 shares during the quarter. HighTower Advisors LLC’s holdings in Novartis were worth $22,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. increased its stake in shares of Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after acquiring an additional 98 shares during the last quarter. Bryn Mawr Capital Management LLC grew its stake in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock valued at $1,254,000 after purchasing an additional 100 shares in the last quarter. Rothschild Investment LLC grew its stake in Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock valued at $1,623,000 after purchasing an additional 101 shares in the last quarter. Meridian Wealth Management LLC increased its position in Novartis by 2.6% in the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock worth $405,000 after purchasing an additional 106 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its stake in shares of Novartis by 3.5% during the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock worth $316,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $109.15 on Friday. The firm has a market capitalization of $223.10 billion, a PE ratio of 18.56, a PEG ratio of 1.70 and a beta of 0.53. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm’s fifty day simple moving average is $105.36 and its 200 day simple moving average is $107.77.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a $3.8695 dividend. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Analyst Upgrades and Downgrades

NVS has been the subject of several recent research reports. Barclays reissued an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novartis currently has an average 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.