Wealthsource Partners LLC decreased its position in shares of Novartis AG (NYSE:NVS – Get Rating) by 35.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,360 shares of the company’s stock after selling 2,344 shares during the period. Wealthsource Partners LLC’s holdings in Novartis were worth $331,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. DF Dent & Co. Inc. grew its position in shares of Novartis by 3.7% during the second quarter. DF Dent & Co. Inc. now owns 3,492 shares of the company’s stock valued at $295,000 after purchasing an additional 125 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Novartis by 1.5% in the 2nd quarter. Mather Group LLC. now owns 8,784 shares of the company’s stock valued at $743,000 after acquiring an additional 127 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Novartis by 1.7% in the 3rd quarter. Valmark Advisers Inc. now owns 7,446 shares of the company’s stock valued at $566,000 after acquiring an additional 127 shares during the last quarter. Keel Point LLC lifted its holdings in shares of Novartis by 4.8% in the 2nd quarter. Keel Point LLC now owns 2,862 shares of the company’s stock valued at $250,000 after acquiring an additional 131 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Novartis by 42.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 441 shares of the company’s stock valued at $34,000 after acquiring an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 8.12% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Stifel Nicolaus raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Monday, December 5th. JPMorgan Chase & Co. raised shares of Novartis from an “underweight” rating to a “neutral” rating in a research note on Tuesday, January 3rd. Morgan Stanley downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 6th. Citigroup downgraded shares of Novartis from a “buy” rating to a “neutral” rating in a research note on Thursday, January 26th. Finally, UBS Group raised their price objective on shares of Novartis from CHF 82 to CHF 84 and gave the stock a “neutral” rating in a research note on Wednesday, December 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $82.63.
Novartis Stock Performance
Novartis Increases Dividend
The firm also recently disclosed an annual dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 10th will be issued a dividend of $3.4694 per share. This represents a yield of 2.6%. This is a positive change from Novartis’s previous annual dividend of $1.18. The ex-dividend date is Thursday, March 9th. Novartis’s dividend payout ratio (DPR) is presently 71.29%.
Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.
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