Canal Capital Management LLC Grows Position in Novartis AG (NVS)

Canal Capital Management LLC lifted its stake in shares of Novartis AG (NYSE:NVS) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,577 shares of the company’s stock after buying an additional 890 shares during the quarter. Novartis comprises 1.5% of Canal Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Canal Capital Management LLC’s holdings in Novartis were worth $2,281,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Novartis by 2.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 112,080 shares of the company’s stock valued at $8,467,000 after purchasing an additional 2,803 shares in the last quarter. Bank of Montreal Can increased its stake in Novartis by 0.8% during the 3rd quarter. Bank of Montreal Can now owns 168,393 shares of the company’s stock valued at $14,509,000 after purchasing an additional 1,267 shares in the last quarter. Delaney Dennis R increased its stake in Novartis by 4.8% during the 3rd quarter. Delaney Dennis R now owns 25,490 shares of the company’s stock valued at $2,196,000 after purchasing an additional 1,170 shares in the last quarter. Somerville Kurt F increased its stake in Novartis by 1.8% during the 3rd quarter. Somerville Kurt F now owns 178,301 shares of the company’s stock valued at $15,363,000 after purchasing an additional 3,086 shares in the last quarter. Finally, Puzo Michael J increased its stake in Novartis by 1.8% during the 3rd quarter. Puzo Michael J now owns 96,062 shares of the company’s stock valued at $8,278,000 after purchasing an additional 1,721 shares in the last quarter. Institutional investors own 10.99% of the company’s stock.

NYSE NVS opened at $88.85 on Monday. Novartis AG has a 1 year low of $72.30 and a 1 year high of $92.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.97. The firm has a market capitalization of $205.24 billion, a PE ratio of 17.46, a PEG ratio of 1.93 and a beta of 0.69.

Novartis (NYSE:NVS) last posted its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). Novartis had a return on equity of 15.66% and a net margin of 24.30%. The firm had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $13.33 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Novartis AG will post 5.43 earnings per share for the current fiscal year.

The company also recently announced an annual dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th will be paid a $2.8646 dividend. This is a positive change from Novartis’s previous annual dividend of $2.33. The ex-dividend date is Monday, March 4th. This represents a dividend yield of 3.27%. Novartis’s dividend payout ratio is presently 37.52%.

A number of analysts have commented on the stock. Wolfe Research assumed coverage on shares of Novartis in a research note on Tuesday, October 23rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Tuesday, November 6th. Barclays lowered shares of Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday, December 7th. Cowen upgraded shares of Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 price target for the company in a research note on Sunday, December 2nd. Finally, Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Tuesday, December 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $90.94.

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Novartis Profile

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.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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