Novartis AG (NYSE:NVS) Shares Acquired by Palisade Asset Management LLC

Palisade Asset Management LLC grew its position in Novartis AG (NYSE:NVS) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,883 shares of the company’s stock after purchasing an additional 951 shares during the period. Palisade Asset Management LLC’s holdings in Novartis were worth $2,310,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Novartis by 167.6% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,827,263 shares of the company’s stock valued at $186,125,000 after buying an additional 1,144,307 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Novartis by 50.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,049,901 shares of the company’s stock worth $208,803,000 after acquiring an additional 686,847 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Novartis by 1,936.7% in the fourth quarter. Pacer Advisors Inc. now owns 387,820 shares of the company’s stock worth $39,158,000 after purchasing an additional 368,778 shares during the period. International Assets Investment Management LLC boosted its position in shares of Novartis by 6,599.3% during the fourth quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after purchasing an additional 147,165 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Novartis by 48.6% in the 3rd quarter. Creative Planning now owns 447,582 shares of the company’s stock valued at $45,591,000 after buying an additional 146,327 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NVS shares. Morgan Stanley started coverage on Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 target price on the stock. BMO Capital Markets increased their target price 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 Stock Up 0.5 %

NYSE NVS traded up $0.53 during trading on Wednesday, hitting $99.60. The stock had a trading volume of 1,119,054 shares, compared to its average volume of 1,543,615. The company has a market capitalization of $203.58 billion, a PE ratio of 13.44, a P/E/G ratio of 1.56 and a beta of 0.53. 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 $97.16 and its two-hundred day moving average price is $99.05. 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 Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were issued a $3.7772 dividend. The ex-dividend date of this dividend 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 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.