Quantbot Technologies LP Boosts Stake in Novartis AG (NYSE:NVS)

Quantbot Technologies LP lifted its holdings in shares of Novartis AG (NYSE:NVS) by 87.3% during the fourth quarter, Holdings Channel reports. The fund owned 74,871 shares of the company’s stock after purchasing an additional 34,895 shares during the quarter. Quantbot Technologies LP’s holdings in Novartis were worth $7,286,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter valued at approximately $28,000. Human Investing LLC acquired a new position in Novartis during the 4th quarter worth $25,000. Union Bancaire Privee UBP SA bought a new stake in shares of Novartis in the 4th quarter worth about $27,000. Kestra Investment Management LLC acquired a new stake in shares of Novartis in the 4th quarter valued at about $47,000. Finally, Clearstead Trust LLC acquired a new position in Novartis in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVS. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, Morgan Stanley began coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Stock Performance

Shares of NYSE NVS opened at $109.09 on Friday. The business’s 50 day moving average is $105.13 and its two-hundred day moving average is $107.84. The company has a market cap of $222.97 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.70 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, equities analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Novartis Profile

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.