WealthTrust Axiom LLC Acquires 759 Shares of Novartis AG (NYSE:NVS)

WealthTrust Axiom LLC boosted its holdings in shares of Novartis AG (NYSE:NVS) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,949 shares of the company’s stock after purchasing an additional 759 shares during the quarter. Novartis comprises 1.1% of WealthTrust Axiom LLC’s portfolio, making the stock its 20th biggest holding. WealthTrust Axiom LLC’s holdings in Novartis were worth $3,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aaron Wealth Advisors LLC lifted its holdings in shares of Novartis by 21.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after buying an additional 1,050 shares in the last quarter. Syon Capital LLC purchased a new stake in Novartis in the 3rd quarter worth $6,568,000. Naviter Wealth LLC boosted its holdings in shares of Novartis by 24.5% during the 4th quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after purchasing an additional 8,116 shares during the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Novartis by 368.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock valued at $2,045,000 after purchasing an additional 15,927 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Novartis by 30.8% in the fourth quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock worth $25,021,000 after purchasing an additional 58,395 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVS shares. BMO Capital Markets boosted their target price on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Morgan Stanley assumed coverage on Novartis in a research report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 target price on the stock.

Novartis Trading Up 0.0 %

Shares of NVS stock traded up $0.03 during trading hours on Tuesday, reaching $97.12. 1,015,036 shares of the stock were exchanged, compared to its average volume of 1,563,136. The firm has a market capitalization of $198.51 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The company’s 50-day moving average price is $97.81 and its 200-day moving average price is $98.98. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43.

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 31.33% and a return on equity of 32.15%. The business had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter last year, the firm earned $1.51 EPS. As a group, equities analysts anticipate that Novartis AG will post 7.22 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 dividend of $3.7772 per share. This is a positive change from Novartis’s previous annual dividend of $3.47. This represents a dividend yield of 3.1%. The ex-dividend date was Thursday, March 7th. Novartis’s payout ratio is currently 32.79%.

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.