XTX Topco Ltd Cuts Stake in Novartis AG (NYSE:NVS)

XTX Topco Ltd lessened its holdings in Novartis AG (NYSE:NVS) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,379 shares of the company’s stock after selling 20,140 shares during the quarter. XTX Topco Ltd’s holdings in Novartis were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Novartis in the fourth quarter worth about $88,339,000. Renaissance Technologies LLC increased its stake in Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock worth $259,706,000 after purchasing an additional 368,171 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Novartis by 17.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after purchasing an additional 296,950 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novartis by 128.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock worth $51,554,000 after purchasing an additional 296,890 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Novartis during the 4th quarter valued at $225,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Up 0.3 %

NYSE:NVS opened at $109.84 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The firm’s 50-day moving average price is $109.01 and its 200-day moving average price is $106.36. The company has a market capitalization of $224.52 billion, a PE ratio of 18.68, a P/E/G ratio of 1.70 and a beta of 0.56. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92.

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

Novartis Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were issued a $3.8695 dividend. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

Analyst Ratings Changes

NVS has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $123.38.

About Novartis

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.