PNC Financial Services Group Inc. Sells 50,653 Shares of Novartis AG (NYSE:NVS)

PNC Financial Services Group Inc. decreased its holdings in shares of Novartis AG (NYSE:NVSFree Report) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,786 shares of the company’s stock after selling 50,653 shares during the period. PNC Financial Services Group Inc.’s holdings in Novartis were worth $24,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in Novartis by 63.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,055 shares of the company’s stock worth $209,000 after purchasing an additional 795 shares in the last quarter. Compass Ion Advisors LLC bought a new stake in Novartis during the 3rd quarter valued at approximately $299,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Novartis during the 3rd quarter valued at approximately $285,000. Main Street Financial Solutions LLC grew its holdings in shares of Novartis by 9.6% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,518 shares of the company’s stock worth $256,000 after acquiring an additional 220 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Novartis by 2.0% in the 3rd quarter. Private Advisor Group LLC now owns 38,945 shares of the company’s stock valued at $3,967,000 after purchasing an additional 754 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

NVS has been the topic of several recent research reports. BMO Capital Markets upped their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Morgan Stanley started coverage on shares of Novartis in a research note on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target for the company.

Get Our Latest Analysis on Novartis

Novartis Stock Up 0.3 %

Shares of NYSE:NVS opened at $102.84 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $97.26 and a two-hundred day simple moving average of $99.56. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The stock has a market capitalization of $210.20 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.64 and a beta of 0.53.

Novartis (NYSE:NVSGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. Novartis had a return on equity of 32.15% and a net margin of 31.33%. The firm had revenue of $11.83 billion during the quarter, compared to analyst estimates of $11.50 billion. On average, research analysts anticipate that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently declared 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 is a boost from Novartis’s previous annual dividend of $3.47. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.1%. Novartis’s dividend payout ratio is presently 32.79%.

Novartis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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