Connor Clark & Lunn Investment Management Ltd. Sells 182,884 Shares of Novartis AG (NYSE:NVS)

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

Other institutional investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC grew its stake in shares of Novartis by 26.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock worth $8,668,000 after acquiring an additional 18,894 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of Novartis by 20.1% in the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock worth $3,001,000 after acquiring an additional 5,164 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Novartis by 135.5% in the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock worth $4,598,000 after acquiring an additional 22,998 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Novartis in the fourth quarter worth $239,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Novartis by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company’s stock worth $18,088,000 after acquiring an additional 18,990 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Down 1.0 %

Shares of NVS opened at $112.11 on Friday. The business’s 50 day moving average is $106.67 and its 200 day moving average is $107.48. The company has a market capitalization of $229.15 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVS shares. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.