WealthTrust Axiom LLC Increases Holdings in Novartis AG (NYSE:NVS)

WealthTrust Axiom LLC increased its stake in Novartis AG (NYSE:NVS) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,949 shares of the company’s stock after buying an additional 759 shares during the quarter. Novartis accounts for approximately 1.1% of WealthTrust Axiom LLC’s portfolio, making the stock its 20th largest holding. WealthTrust Axiom LLC’s holdings in Novartis were worth $3,428,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVS. Principal Financial Group Inc. increased its stake in shares of Novartis by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,539,265 shares of the company’s stock worth $258,650,000 after purchasing an additional 51,391 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Novartis by 50.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,049,901 shares of the company’s stock worth $208,803,000 after purchasing an additional 686,847 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Novartis by 167.6% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,827,263 shares of the company’s stock valued at $186,125,000 after purchasing an additional 1,144,307 shares during the period. FMR LLC lifted its stake in shares of Novartis by 3.1% during the 3rd quarter. FMR LLC now owns 1,221,589 shares of the company’s stock valued at $124,431,000 after buying an additional 36,269 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Novartis by 10.9% in the 3rd quarter. Truist Financial Corp now owns 863,859 shares of the company’s stock valued at $87,993,000 after buying an additional 85,075 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the subject of several recent research reports. Morgan Stanley began coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target for the company. BMO Capital Markets upped their target price 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 Price Performance

NYSE NVS traded up $0.03 during trading on Tuesday, reaching $97.12. The company’s stock had a trading volume of 1,015,036 shares, compared to its average volume of 1,563,136. The stock has a market capitalization of $198.51 billion, a PE ratio of 13.16, a P/E/G ratio of 1.57 and a beta of 0.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The firm has a fifty day moving average of $97.81 and a 200 day moving average of $98.98. Novartis AG has a one year low of $92.19 and a one year high of $108.78.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). The company had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Analysts expect that Novartis AG will post 7.22 EPS for the current fiscal year.

Novartis Increases Dividend

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

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.