Penobscot Investment Management Company Inc. Has $2.36 Million Stock Position in Novartis AG (NYSE:NVS)

Penobscot Investment Management Company Inc. lessened its holdings in Novartis AG (NYSE:NVS) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,217 shares of the company’s stock after selling 750 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Novartis were worth $2,357,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Novartis in the fourth quarter worth approximately $88,339,000. Fisher Asset Management LLC raised its position in Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after buying an additional 296,950 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Novartis by 128.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock worth $51,554,000 after acquiring an additional 296,890 shares during the last quarter. World Investment Advisors LLC purchased a new position in Novartis during the 3rd quarter worth $30,063,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Novartis in the fourth quarter valued at about $225,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $110.31 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 has a market cap of $225.47 billion, a PE ratio of 18.76, a PEG ratio of 1.70 and a beta of 0.53. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The stock’s fifty day moving average price is $107.12 and its two-hundred day moving average price is $107.24.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate 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 research analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were issued a $3.8695 dividend. The ex-dividend date was Wednesday, March 12th. Novartis’s payout ratio is 42.69%.

Analyst Ratings Changes

Several research analysts recently weighed in on NVS shares. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley assumed coverage on Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating for the company. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, 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.