Connecticut Wealth Management LLC Acquires 151 Shares of Novartis AG (NYSE:NVS)

Connecticut Wealth Management LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,522 shares of the company’s stock after purchasing an additional 151 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Novartis were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVS. Stratos Wealth Partners LTD. raised its position in shares of Novartis by 7.4% during the third quarter. Stratos Wealth Partners LTD. now owns 13,186 shares of the company’s stock worth $1,343,000 after purchasing an additional 909 shares during the period. Brighton Jones LLC raised its position in Novartis by 2.9% in the 3rd quarter. Brighton Jones LLC now owns 4,646 shares of the company’s stock valued at $473,000 after buying an additional 129 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in Novartis in the 3rd quarter valued at $211,000. NBT Bank N A NY raised its position in Novartis by 32.4% in the 3rd quarter. NBT Bank N A NY now owns 26,635 shares of the company’s stock valued at $2,713,000 after buying an additional 6,518 shares during the last quarter. Finally, Advisor Partners II LLC raised its position in Novartis by 21.1% in the 3rd quarter. Advisor Partners II LLC now owns 31,895 shares of the company’s stock valued at $3,249,000 after buying an additional 5,552 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of Novartis stock traded up $0.33 during trading hours on Monday, hitting $97.60. 570,320 shares of the company’s stock traded hands, compared to its average volume of 1,547,885. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The stock has a market capitalization of $199.49 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.56 and a beta of 0.53. The company has a fifty day simple moving average of $97.35 and a 200-day simple moving average of $99.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71.

Novartis Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets increased their price target on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Morgan Stanley assumed coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target for the company.

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.