Dorsey Wright & Associates Cuts Stock Position in Novartis AG (NYSE:NVS)

Dorsey Wright & Associates trimmed its position in shares of Novartis AG (NYSE:NVS) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,708 shares of the company’s stock after selling 1,910 shares during the period. Dorsey Wright & Associates’ holdings in Novartis were worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Human Investing LLC purchased a new position in shares of Novartis in the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis during the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC purchased a new position in Novartis in the 3rd quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new position in shares of Novartis in the fourth quarter worth $47,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Novartis during the fourth quarter worth $51,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NVS opened at $112.69 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a market cap of $230.34 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The firm has a fifty day moving average price of $107.92 and a 200 day moving average price of $107.19.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on NVS shares. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Novartis currently has an average rating of “Hold” and a consensus price target of $123.38.

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.