Novartis AG (NYSE:NVS) Stock Holdings Lifted by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in Novartis AG (NYSE:NVS) by 24.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,219 shares of the company’s stock after acquiring an additional 8,116 shares during the quarter. Novartis makes up about 0.8% of Naviter Wealth LLC’s holdings, making the stock its 28th biggest holding. Naviter Wealth LLC’s holdings in Novartis were worth $4,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC acquired a new position in shares of Novartis in the 3rd quarter valued at about $28,000. Planned Solutions Inc. purchased a new position in Novartis during the fourth quarter valued at approximately $31,000. AdvisorNet Financial Inc increased its stake in Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after buying an additional 288 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Novartis in the 3rd quarter worth approximately $39,000. Finally, Adirondack Trust Co. boosted its stake in shares of Novartis by 69.1% during the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock valued at $40,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.3 %

Shares of Novartis stock traded down $0.30 during midday trading on Monday, reaching $97.14. 1,164,510 shares of the company’s stock traded hands, compared to its average volume of 1,557,531. The company has a market cap of $198.55 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. Novartis AG has a 52 week low of $92.19 and a 52 week high of $108.78. The company’s 50 day simple moving average is $97.87 and its 200 day simple moving average is $98.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.42 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the firm earned $1.51 EPS. Equities analysts expect that Novartis AG will post 7.22 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were given a $3.7772 dividend. This is a positive change from Novartis’s previous annual dividend of $3.47. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.1%. Novartis’s dividend payout ratio (DPR) is currently 32.79%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVS shares. Morgan Stanley assumed coverage on Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective for the company. BMO Capital Markets raised their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th.

Novartis Company 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.