Cubic Asset Management LLC Has $2.39 Million Stock Holdings in Novartis AG (NYSE:NVS)

Cubic Asset Management LLC cut its holdings in Novartis AG (NYSE:NVS) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,693 shares of the company’s stock after selling 2,100 shares during the quarter. Cubic Asset Management LLC’s holdings in Novartis were worth $2,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVS. McCarthy Grittinger Financial Group LLC bought a new stake in Novartis in the 3rd quarter valued at approximately $25,000. Fortis Capital Advisors LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $27,000. Operose Advisors LLC bought a new stake in shares of Novartis during the 3rd quarter worth approximately $28,000. Stonebridge Capital Advisors LLC raised its stake in shares of Novartis by 118.1% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 301 shares of the company’s stock worth $30,000 after purchasing an additional 163 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Novartis during the 4th quarter worth approximately $31,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NYSE NVS traded down $1.10 on Friday, reaching $95.79. The stock had a trading volume of 1,863,223 shares, compared to its average volume of 1,361,684. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.93. The firm has a fifty day moving average of $100.09 and a two-hundred day moving average of $99.50. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The company has a market cap of $203.04 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.49 and a beta of 0.54.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). The company had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. Novartis had a return on equity of 29.90% and a net margin of 29.83%. During the same period last year, the company posted $1.51 earnings per share. On average, equities research analysts anticipate that Novartis AG will post 7.17 EPS for the current year.

Novartis Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Investors of record on Friday, March 8th were paid a $3.7772 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Novartis’s previous annual dividend of $3.47. This represents a yield of 3.1%. Novartis’s dividend payout ratio (DPR) is 34.26%.

Analyst Ratings Changes

NVS has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Novartis in a research note 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 Novartis in a research note on Friday, February 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Finally, HSBC cut Novartis from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.33.

Novartis Profile

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.