Cibc World Market Inc. Has $19.82 Million Stock Holdings in Novartis AG $NVS

Cibc World Market Inc. lessened its holdings in Novartis AG (NYSE:NVS) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 154,547 shares of the company’s stock after selling 4,451 shares during the quarter. Cibc World Market Inc.’s holdings in Novartis were worth $19,819,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Novartis in the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. bought a new stake in Novartis during the third quarter worth approximately $31,000. Quaker Wealth Management LLC grew its holdings in Novartis by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 352 shares of the company’s stock valued at $43,000 after purchasing an additional 704 shares during the last quarter. Country Trust Bank raised its position in shares of Novartis by 47.4% in the third quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after purchasing an additional 110 shares during the period. Finally, Harbor Asset Planning Inc. acquired a new stake in shares of Novartis in the second quarter worth $53,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a research report on Monday, October 27th. HC Wainwright lowered Novartis to a “neutral” rating in a research note on Monday, October 27th. Barclays raised Novartis from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings raised shares of Novartis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $119.75.

Novartis Stock Up 0.7%

NYSE NVS opened at $161.14 on Friday. Novartis AG has a 1-year low of $97.71 and a 1-year high of $162.32. The company has a market capitalization of $340.40 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 2.40 and a beta of 0.50. The stock’s 50 day moving average is $142.89 and its two-hundred day moving average is $131.97. The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.60.

Novartis (NYSE:NVS) last posted its earnings results on Wednesday, February 4th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The business had revenue of $524.00 million during the quarter, compared to the consensus estimate of $13.85 billion. Novartis had a return on equity of 40.53% and a net margin of 25.65%.Novartis’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. Equities analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 11th will be given a dividend of $4.773 per share. The ex-dividend date is Wednesday, March 11th. This represents a dividend yield of 312.0%. Novartis’s dividend payout ratio (DPR) is 36.31%.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.