Capital Asset Advisory Services LLC purchased a new stake in Novartis AG (NYSE:NVS) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,088 shares of the company’s stock, valued at approximately $103,000.
Several other large investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its holdings in shares of Novartis by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 9,337,800 shares of the company’s stock valued at $881,768,000 after acquiring an additional 273,520 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Novartis by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,669,601 shares of the company’s stock valued at $440,950,000 after acquiring an additional 29,894 shares in the last quarter. Morgan Stanley raised its holdings in shares of Novartis by 10.3% in the 4th quarter. Morgan Stanley now owns 2,808,993 shares of the company’s stock valued at $265,253,000 after acquiring an additional 263,445 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Novartis by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,796,311 shares of the company’s stock valued at $264,056,000 after acquiring an additional 64,713 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Novartis by 8.6% in the 4th quarter. Principal Financial Group Inc. now owns 1,674,186 shares of the company’s stock valued at $158,093,000 after acquiring an additional 132,070 shares in the last quarter. 9.86% of the stock is currently owned by hedge funds and other institutional investors.
NVS opened at $86.30 on Thursday. The stock’s 50 day simple moving average is $86.31 and its 200 day simple moving average is $88.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69. Novartis AG has a 1 year low of $77.04 and a 1 year high of $98.52. The firm has a market cap of $197.51 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.76 and a beta of 0.59.
The business also recently declared an annual dividend, which was paid on Monday, March 15th. Investors of record on Friday, March 5th were given a dividend of $3.3784 per share. This represents a yield of 2.2%. This is a positive change from Novartis’s previous annual dividend of $3.04. The ex-dividend date was Thursday, March 4th. Novartis’s dividend payout ratio (DPR) is presently 39.69%.
A number of equities analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a report on Tuesday, February 2nd. Cowen cut Novartis from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $110.00 to $105.00 in a report on Monday, February 1st. Societe Generale reissued a “buy” rating on shares of Novartis in a report on Tuesday, March 23rd. Argus reissued a “hold” rating on shares of Novartis in a report on Tuesday, March 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Novartis in a report on Friday, January 15th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $108.50.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.
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