Franklin Parlapiano Turner & Welch LLC Decreases Stock Holdings in Novartis AG $NVS

by · The Markets Daily

Franklin Parlapiano Turner & Welch LLC trimmed its position in shares of Novartis AG (NYSE:NVS – Free Report) by 4.7% during the 4th quarter, Holdings Channel reports. The fund owned 70,511 shares of the company’s stock after selling 3,468 shares during the period. Novartis makes up approximately 2.5% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 11th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Novartis were worth $10,178,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in Novartis during the 3rd quarter valued at $31,000. Measured Wealth Private Client Group LLC purchased a new stake in Novartis during the 3rd quarter valued at $33,000. South Plains Financial Inc. raised its holdings in Novartis by 39.0% during the 3rd quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock valued at $35,000 after buying an additional 76 shares during the period. Country Trust Bank raised its holdings in Novartis by 47.4% during the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after buying an additional 110 shares during the period. Finally, Aventura Private Wealth LLC purchased a new stake in Novartis during the 4th quarter valued at $45,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

NVS stock opened at $154.36 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.12 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $156.88 and its two-hundred day simple moving average is $141.49. Novartis AG has a twelve month low of $97.71 and a twelve month high of $170.46. The firm has a market cap of $326.07 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.64 and a beta of 0.52.

Novartis (NYSE:NVS – Get Free Report) last released 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 return on equity of 40.53% and a net margin of 25.65%.The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $13.85 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. Analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

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

Analysts Set New Price Targets

NVS has been the topic of several recent research reports. TD Cowen restated a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, February 12th. Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Wednesday, March 11th. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein upgraded Novartis to a “hold” rating in a report on Thursday, March 19th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.20.

Read Our Latest Research 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).