Eldred Rock Partners LLC Lowers Holdings in Novartis AG $NVS

Eldred Rock Partners LLC reduced its position in shares of Novartis AG (NYSE:NVS) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,549 shares of the company’s stock after selling 9,204 shares during the period. Novartis makes up 2.9% of Eldred Rock Partners LLC’s portfolio, making the stock its 20th biggest holding. Eldred Rock Partners LLC’s holdings in Novartis were worth $11,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in shares of Novartis in the third quarter worth $31,000. Measured Wealth Private Client Group LLC purchased a new position in Novartis during the third quarter worth about $33,000. South Plains Financial Inc. increased its stake in Novartis by 39.0% in the 3rd quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after acquiring an additional 76 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Novartis in the 4th quarter valued at about $45,000. Finally, Country Trust Bank raised its holdings in shares of Novartis by 47.4% in the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE NVS opened at $153.91 on Friday. The stock’s 50-day moving average is $156.56 and its 200 day moving average is $140.52. The stock has a market cap of $325.13 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 2.66 and a beta of 0.52. Novartis AG has a 1-year low of $97.71 and a 1-year high of $170.46. 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 issued its quarterly earnings results on Tuesday, February 3rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $1.98 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 11th were issued a dividend of $4.773 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a dividend yield of 306.0%. Novartis’s dividend payout ratio (DPR) is currently 43.02%.

Analysts Set New Price Targets

Several research analysts have recently commented on NVS shares. TD Cowen reissued a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a research note on Thursday, March 19th. DZ Bank cut shares of Novartis from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Thursday, February 5th. Finally, Barclays upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $141.20.

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.