Wellington Management Group LLP Decreases Holdings in Novartis AG (NYSE:NVS)

Wellington Management Group LLP cut its holdings in shares of Novartis AG (NYSE:NVSFree Report) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,691,916 shares of the company’s stock after selling 60,036 shares during the quarter. Wellington Management Group LLP owned 0.22% of Novartis worth $477,919,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. McCarthy Grittinger Financial Group LLC purchased a new position in shares of Novartis in the third quarter worth $25,000. Fortis Capital Advisors LLC purchased a new position in shares of Novartis in the fourth quarter worth $27,000. Operose Advisors LLC purchased a new position in shares of Novartis in the third quarter worth $28,000. Stonebridge Capital Advisors LLC increased its stake in shares of Novartis by 118.1% in the second quarter. Stonebridge Capital Advisors LLC now owns 301 shares of the company’s stock worth $30,000 after buying an additional 163 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Novartis in the fourth quarter worth $35,000. 7.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Novartis in a research note on Wednesday, December 6th. They issued a “strong-buy” rating on the stock. Morgan Stanley initiated coverage on shares of Novartis in a report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Novartis in a report on Friday, February 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Finally, HSBC cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.33.

Read Our Latest Analysis on Novartis

Novartis Stock Performance

NYSE:NVS opened at $99.00 on Thursday. Novartis AG has a twelve month low of $81.27 and a twelve month high of $108.78. The stock has a market cap of $209.84 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $103.93 and its 200 day simple moving average is $100.05.

Novartis (NYSE:NVSGet Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a net margin of 29.83% and a return on equity of 29.90%. The business had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the firm posted $1.51 EPS. As a group, research analysts predict that Novartis AG will post 7.18 EPS for the current year.

Novartis Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were issued a dividend of $3.7772 per share. This represents a dividend yield of 3.1%. The ex-dividend date was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s payout ratio is 34.26%.

Novartis Profile

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.

Featured Stories

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:NVSFree Report).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.