Liberty Wealth Management LLC purchased a new stake in shares of Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,259 shares of the company’s stock, valued at approximately $108,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in Novartis in the 4th quarter worth approximately $30,000. Laurel Wealth Advisors LLC purchased a new stake in Novartis in the 4th quarter worth approximately $35,000. Executive Wealth Management LLC purchased a new stake in Novartis in the 4th quarter worth approximately $36,000. Sonora Investment Management LLC increased its holdings in Novartis by 93.9% in the 4th quarter. Sonora Investment Management LLC now owns 479 shares of the company’s stock worth $41,000 after acquiring an additional 232 shares in the last quarter. Finally, Front Row Advisors LLC increased its holdings in Novartis by 90.7% in the 4th quarter. Front Row Advisors LLC now owns 492 shares of the company’s stock worth $42,000 after acquiring an additional 234 shares in the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.
NVS stock opened at $95.71 on Tuesday. Novartis AG has a 1-year low of $72.30 and a 1-year high of $96.31. The company has a quick ratio of 0.97, a current ratio of 1.20 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $222.08 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.68.
The firm also recently declared an annual dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, March 5th were paid a $2.8646 dividend. This represents a yield of 3.27%. This is an increase from Novartis’s previous annual dividend of $2.33. The ex-dividend date was Monday, March 4th. Novartis’s dividend payout ratio is presently 36.15%.
Several research firms recently issued reports on NVS. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a report on Wednesday, January 16th. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 target price on shares of Novartis in a report on Tuesday, December 11th. Barclays lowered shares of Novartis from an “equal weight” rating to a “sell” rating in a report on Friday, December 7th. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, December 18th. Finally, Credit Suisse Group lowered shares of Novartis to a “sell” rating in a report on Thursday, December 20th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $90.94.
In other Novartis news, major shareholder Bioventures Ltd Novartis sold 88,835 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $0.94, for a total value of $83,504.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 443,135 shares of company stock valued at $628,545 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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