Dodge & Cox Cuts Position in Novartis AG (NYSE:NVS)

Dodge & Cox trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,214,665 shares of the company’s stock after selling 7,211 shares during the period. Dodge & Cox owned approximately 0.60% of Novartis worth $1,188,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jump Financial LLC purchased a new stake in shares of Novartis in the fourth quarter worth $208,000. Promethos Capital LLC boosted its stake in Novartis by 10.6% in the 4th quarter. Promethos Capital LLC now owns 156,088 shares of the company’s stock worth $15,189,000 after purchasing an additional 15,012 shares in the last quarter. Belpointe Asset Management LLC grew its position in Novartis by 32.1% during the 4th quarter. Belpointe Asset Management LLC now owns 5,707 shares of the company’s stock valued at $555,000 after purchasing an additional 1,387 shares during the last quarter. Mariner LLC increased its stake in Novartis by 15.8% during the 4th quarter. Mariner LLC now owns 235,218 shares of the company’s stock valued at $22,889,000 after purchasing an additional 32,170 shares in the last quarter. Finally, Savvy Advisors Inc. purchased a new position in Novartis in the fourth quarter worth about $701,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 1.8 %

Novartis stock opened at $109.43 on Tuesday. The business has a 50-day simple moving average of $108.95 and a two-hundred day simple moving average of $106.33. Novartis AG has a 52-week low of $92.35 and a 52-week 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 company has a market cap of $223.67 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.56.

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

Novartis Announces Dividend

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

Analyst Ratings Changes

NVS has been the subject of several analyst reports. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Barclays reissued an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, Morgan Stanley initiated coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.