Edgemoor Investment Advisors Inc. Trims Stock Holdings in Novartis AG (NYSE:NVS)

Edgemoor Investment Advisors Inc. cut its holdings in shares of Novartis AG (NYSE:NVS) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 119,683 shares of the company’s stock after selling 6,761 shares during the quarter. Novartis comprises about 1.0% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 25th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Novartis were worth $11,646,000 at the end of the most recent reporting period.

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

Novartis Stock Up 0.0 %

NYSE:NVS opened at $109.15 on Monday. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. 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 firm has a market capitalization of $223.10 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.70 and a beta of 0.53. The stock’s fifty day simple moving average is $105.36 and its 200-day simple moving average is $107.59.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping 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%. Equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Dividend Announcement

The firm also recently disclosed 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 was Wednesday, March 12th. Novartis’s payout ratio is presently 42.69%.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of analyst reports. Barclays restated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.38.

Novartis Company 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.