36,154 Shares in Novartis AG (NYSE:NVS) Bought by Summit Global Investments

Summit Global Investments bought a new position in Novartis AG (NYSE:NVS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,154 shares of the company’s stock, valued at approximately $3,518,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Human Investing LLC acquired a new position in Novartis during the 4th quarter valued at about $25,000. Union Bancaire Privee UBP SA bought a new stake in shares of Novartis during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis during the third quarter worth approximately $28,000. Kestra Investment Management LLC bought a new position in Novartis in the 4th quarter worth approximately $47,000. Finally, Clearstead Trust LLC acquired a new stake in Novartis in the 4th quarter valued at approximately $51,000. 13.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Morgan Stanley began coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.38.

Novartis Price Performance

Shares of NYSE:NVS opened at $112.11 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $106.67 and a 200 day moving average price of $107.48. The company has a market cap of $229.15 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92.

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

Novartis Announces Dividend

The business also recently declared 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 was Wednesday, March 12th. Novartis’s dividend payout ratio is 42.69%.

About Novartis

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.