Greenup Street Wealth Management LLC Sells 28,788 Shares of Novartis AG $NVS

by · The Markets Daily

Greenup Street Wealth Management LLC lowered its holdings in Novartis AG (NYSE:NVS – Free Report) by 92.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,444 shares of the company’s stock after selling 28,788 shares during the period. Greenup Street Wealth Management LLC’s holdings in Novartis were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NVS. Brighton Jones LLC boosted its holdings in Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after purchasing an additional 2,666 shares during the period. AQR Capital Management LLC boosted its holdings in Novartis by 102.8% in the 1st quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock valued at $2,516,000 after purchasing an additional 11,444 shares during the period. Empowered Funds LLC bought a new stake in Novartis in the 1st quarter valued at about $1,764,000. Sivia Capital Partners LLC raised its position in shares of Novartis by 48.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after buying an additional 2,581 shares in the last quarter. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Novartis in the 2nd quarter valued at approximately $202,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.7%

NVS opened at $153.92 on Friday. Novartis AG has a fifty-two week low of $104.69 and a fifty-two week high of $170.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.12 and a quick ratio of 0.89. The firm has a market capitalization of $325.15 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.64 and a beta of 0.52. The company’s 50 day moving average price is $157.11 and its two-hundred day moving average price is $141.93.

Novartis (NYSE:NVS – Get Free Report) last posted its earnings results on Tuesday, February 3rd. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $13.85 billion. During the same period in the previous year, the firm posted $1.98 EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, March 11th were issued a dividend of $4.773 per share. This represents a yield of 306.0%. The ex-dividend date of this dividend was Wednesday, March 11th. Novartis’s payout ratio is presently 43.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, February 12th. Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Wednesday, March 11th. Wall Street Zen cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Barclays upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings upgraded shares of Novartis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.20.

View Our Latest Stock Report on Novartis

Novartis Profile

(Free Report)

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

Featured Articles

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS – Free Report).