Novartis AG (NYSE:NVS) is First Fiduciary Investment Counsel Inc.’s 9th Largest Position

First Fiduciary Investment Counsel Inc. lessened its stake in shares of Novartis AG (NYSE:NVS) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,004 shares of the company’s stock after selling 1,727 shares during the quarter. Novartis comprises 3.2% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 9th largest holding. First Fiduciary Investment Counsel Inc.’s holdings in Novartis were worth $14,540,000 as of its most recent filing with the Securities & Exchange Commission.

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

Novartis Stock Performance

NYSE:NVS opened at $97.44 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.93. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The business has a 50 day moving average of $97.87 and a 200 day moving average of $98.99. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.59 and a beta of 0.54.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a net margin of 31.33% and a return on equity of 32.15%. The company had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. On average, sell-side analysts predict that Novartis AG will post 7.22 earnings per share for the current fiscal year.

Novartis Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were given a $3.7772 dividend. 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 payout ratio is presently 32.79%.

Analysts Set New Price Targets

NVS has been the subject of several recent analyst reports. BMO Capital Markets boosted their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday. Morgan Stanley initiated 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.

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.