Private Advisor Group LLC Decreases Stake in Novartis AG (NYSE:NVS)

Private Advisor Group LLC cut its stake in Novartis AG (NYSE:NVS) by 3.4% in the fourth quarter, Holdings Channel reports. The firm owned 37,625 shares of the company’s stock after selling 1,320 shares during the period. Private Advisor Group LLC’s holdings in Novartis were worth $3,799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of NVS. Murphy Middleton Hinkle & Parker Inc. lifted its stake in shares of Novartis by 4.9% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,072 shares of the company’s stock worth $209,000 after buying an additional 97 shares during the period. Pinnacle Bancorp Inc. lifted its position in Novartis by 2.8% during the 4th quarter. Pinnacle Bancorp Inc. now owns 3,641 shares of the company’s stock worth $368,000 after acquiring an additional 98 shares during the period. Optimum Investment Advisors grew its stake in 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 holdings in shares of Novartis by 0.3% in the fourth 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 period. Finally, Means Investment CO. Inc. raised its stake in shares of Novartis by 1.3% in the fourth quarter. Means Investment CO. Inc. now owns 8,074 shares of the company’s stock worth $815,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NVS shares. Morgan Stanley began coverage on shares of Novartis in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective for the company. BMO Capital Markets lifted their price objective on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th.

Novartis Stock Performance

NVS opened at $100.21 on Friday. The stock has a market cap of $204.83 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.56 and a beta of 0.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The firm has a fifty day moving average price of $97.09 and a 200 day moving average price of $99.07. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78.

Novartis Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were given a dividend of $3.7772 per share. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.1%. This is an increase from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio is currently 32.79%.

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.