Connecticut Wealth Management LLC Raises Stock Holdings in Novartis AG (NYSE:NVS)

Connecticut Wealth Management LLC grew its stake in Novartis AG (NYSE:NVS) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,522 shares of the company’s stock after buying an additional 151 shares during the period. Connecticut Wealth Management LLC’s holdings in Novartis were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Operose Advisors LLC bought a new position in shares of Novartis in the third quarter worth about $28,000. Planned Solutions Inc. bought a new position in shares of Novartis in the fourth quarter worth about $31,000. AdvisorNet Financial Inc boosted its stake in shares of Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after acquiring an additional 288 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Novartis in the third quarter worth about $39,000. Finally, Adirondack Trust Co. boosted its stake in shares of Novartis by 69.1% in the third quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Morgan Stanley started coverage on Novartis in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price target for the company.

Novartis Price Performance

Novartis stock traded up $0.33 during midday trading on Monday, reaching $97.60. 570,320 shares of the stock traded hands, compared to its average volume of 1,547,885. The stock’s fifty day moving average is $97.35 and its 200-day moving average is $99.00. Novartis AG has a 12 month low of $92.19 and a 12 month high of $108.78. The stock has a market cap of $199.49 billion, a P/E ratio of 13.13, a PEG ratio of 1.56 and a beta of 0.53. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

Novartis Increases Dividend

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