Pinnacle Wealth Management Advisory Group LLC Has $477,000 Position in Novartis AG (NYSE:NVS)

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in shares of Novartis AG (NYSE:NVS) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,723 shares of the company’s stock after selling 287 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Novartis were worth $477,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Operose Advisors LLC acquired a new position in shares of Novartis in the 3rd quarter valued at $28,000. Planned Solutions Inc. acquired a new stake in shares of Novartis during the fourth quarter worth about $31,000. AdvisorNet Financial Inc lifted its holdings in shares of Novartis by 480.0% during the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Novartis during the 3rd quarter worth approximately $39,000. Finally, Adirondack Trust Co. raised its holdings in Novartis by 69.1% during the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after buying an additional 159 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the topic of a number of research analyst reports. Morgan Stanley assumed coverage on shares of Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective on the stock. 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 report on Wednesday, April 24th.

Novartis Stock Up 0.4 %

Shares of Novartis stock traded up $0.44 during trading hours on Thursday, reaching $100.04. 578,074 shares of the company’s stock were exchanged, compared to its average volume of 1,535,483. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $97.16 and a two-hundred day moving average of $99.05. The stock has a market cap of $204.48 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.56 and a beta of 0.53. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78.

Novartis Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.1%. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio is currently 32.79%.

About Novartis

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.