Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Novartis AG (NYSE:NVS)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Novartis AG (NYSE:NVS) by 95.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,433 shares of the company’s stock after selling 182,884 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Novartis were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. boosted its stake in Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after buying an additional 98 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its stake in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after buying an additional 100 shares in the last quarter. Rothschild Investment LLC boosted its stake in Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after buying an additional 101 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in Novartis by 2.6% in the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock worth $405,000 after buying an additional 106 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in Novartis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock worth $316,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of Novartis stock opened at $112.11 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $229.15 billion, a PE ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.53. The business has a 50 day moving average of $106.67 and a 200 day moving average of $107.48. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. As a group, equities research analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

Analyst Ratings Changes

NVS has been the subject of a number of analyst reports. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, Barclays reissued an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novartis has a consensus rating of “Hold” and an average target price of $123.38.

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.