Pinnacle Wealth Management Advisory Group LLC Sells 287 Shares of Novartis AG (NYSE:NVS)

Pinnacle Wealth Management Advisory Group LLC decreased its position in Novartis AG (NYSE:NVS) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,723 shares of the company’s stock after selling 287 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Novartis were worth $477,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC increased its holdings in 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 purchasing an additional 1,050 shares in the last quarter. Syon Capital LLC acquired a new stake in Novartis in the third quarter worth $6,568,000. First Trust Direct Indexing L.P. raised its holdings in shares of Novartis by 10.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 20,560 shares of the company’s stock valued at $2,076,000 after purchasing an additional 1,974 shares during the period. Naviter Wealth LLC grew its stake in shares of Novartis by 24.5% in the 4th quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after buying an additional 8,116 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its position in Novartis by 368.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock valued at $2,045,000 after buying an additional 15,927 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS stock traded up $0.44 on Thursday, hitting $100.04. 578,074 shares of the stock were exchanged, compared to its average volume of 1,535,483. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $204.48 billion, a PE ratio of 13.47, a P/E/G ratio of 1.56 and a beta of 0.53. Novartis AG has a one year low of $92.19 and a one year high of $108.78. The firm’s 50 day moving average is $97.16 and its two-hundred day moving average is $99.05.

Novartis Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. 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. BMO Capital Markets boosted their price target 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.

Novartis 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.