SevenBridge Financial Group LLC Sells 710 Shares of Novartis AG (NYSE:NVS)

SevenBridge Financial Group LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 5.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,333 shares of the company’s stock after selling 710 shares during the period. SevenBridge Financial Group LLC’s holdings in Novartis were worth $1,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVS. Human Investing LLC purchased a new position in Novartis in the 4th quarter worth approximately $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 purchased a new position in shares of Novartis in the third quarter worth $28,000. Kestra Investment Management LLC bought a new position in shares of Novartis during the fourth quarter worth $47,000. Finally, Clearstead Trust LLC bought a new stake in Novartis in the 4th quarter valued at $51,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $109.49 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The stock’s fifty day moving average is $108.40 and its 200 day moving average is $107.06. The firm has a market capitalization of $223.80 billion, a PE ratio of 18.62, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.

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

Novartis Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders 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 42.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NVS shares. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Morgan Stanley began coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.