Parkside Financial Bank & Trust Acquires 2,355 Shares of Novartis AG (NYSE:NVS)

Parkside Financial Bank & Trust boosted its holdings in shares of Novartis AG (NYSE:NVS) by 77.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,413 shares of the company’s stock after purchasing an additional 2,355 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Novartis were worth $547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Murphy Middleton Hinkle & Parker Inc. increased its stake in Novartis by 4.9% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,072 shares of the company’s stock worth $209,000 after acquiring an additional 97 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Novartis by 2.8% during the 4th quarter. Pinnacle Bancorp Inc. now owns 3,641 shares of the company’s stock valued at $368,000 after purchasing an additional 98 shares during the last quarter. Optimum Investment Advisors increased its position in shares of Novartis by 23.3% during the 4th quarter. Optimum Investment Advisors now owns 530 shares of the company’s stock valued at $54,000 after purchasing an additional 100 shares during the last quarter. Chesley Taft & Associates LLC increased its position in shares of Novartis by 0.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 33,062 shares of the company’s stock valued at $3,338,000 after purchasing an additional 100 shares during the last quarter. Finally, Means Investment CO. Inc. increased its position in shares of Novartis by 1.3% during the 4th quarter. Means Investment CO. Inc. now owns 8,074 shares of the company’s stock valued at $815,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVS. BMO Capital Markets initiated coverage on Novartis in a research report on Friday, February 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Morgan Stanley assumed coverage on Novartis in a report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Novartis Stock Up 2.2 %

Shares of NYSE NVS traded up $2.07 during mid-day trading on Tuesday, reaching $97.19. 2,714,324 shares of the company were exchanged, compared to its average volume of 1,524,720. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The stock has a market cap of $198.66 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.47 and a beta of 0.54. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78. The firm has a 50-day moving average of $97.98 and a 200 day moving average of $98.99.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a net margin of 29.83% and a return on equity of 29.90%. The business had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the company earned $1.51 earnings per share. On average, research analysts expect that Novartis AG will post 7.13 earnings per share for the current year.

Novartis Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were paid a $3.7772 dividend. This is an increase from Novartis’s previous annual dividend of $3.47. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 3.1%. Novartis’s dividend payout ratio is presently 33.84%.

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.