18,833 Shares in Novartis AG (NYSE:NVS) Acquired by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. purchased a new position in Novartis AG (NYSE:NVSFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,833 shares of the company’s stock, valued at approximately $1,902,000. Novartis comprises about 1.9% of Foresight Capital Management Advisors Inc.’s portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McCarthy Grittinger Financial Group LLC purchased a new position in Novartis in the third quarter valued at $25,000. Operose Advisors LLC purchased a new position in shares of Novartis in the 3rd quarter valued at about $28,000. Fortis Capital Advisors LLC purchased a new stake in Novartis during the fourth quarter worth approximately $27,000. Stonebridge Capital Advisors LLC lifted its stake in Novartis by 118.1% during the second quarter. Stonebridge Capital Advisors LLC now owns 301 shares of the company’s stock worth $30,000 after purchasing an additional 163 shares during the last quarter. Finally, Vestor Capital LLC acquired a new position in Novartis in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVS. BMO Capital Markets initiated coverage on shares of Novartis in a research report on Friday, February 23rd. They set a “market perform” rating and a $114.00 price objective for the company. HSBC downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Morgan Stanley assumed coverage on Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective on the stock. Finally, StockNews.com initiated coverage on Novartis in a research report on Wednesday, December 6th. They issued a “strong-buy” rating for the company. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.33.

Get Our Latest Research Report on Novartis

Novartis Trading Down 0.5 %

Shares of Novartis stock opened at $96.83 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 1.15. The company has a market capitalization of $205.24 billion, a P/E ratio of 13.55, a PEG ratio of 1.54 and a beta of 0.54. Novartis AG has a 1 year low of $81.96 and a 1 year high of $108.78. The company’s fifty day moving average is $103.60 and its two-hundred day moving average is $99.97.

Novartis (NYSE:NVSGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). The company had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Novartis had a return on equity of 29.90% and a net margin of 29.83%. During the same period in the prior year, the business earned $1.51 EPS. Analysts forecast that Novartis AG will post 7.18 earnings per share for the current year.

Novartis Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were paid a dividend of $3.7772 per share. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio is 34.12%.

About Novartis

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.

See Also

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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