Novartis AG (NYSE:NVS) Shares Purchased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. raised its stake in Novartis AG (NYSE:NVS) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,721 shares of the company’s stock after acquiring an additional 2,635 shares during the period. Legacy Financial Advisors Inc.’s holdings in Novartis were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Novartis by 35.6% in the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock valued at $41,176,000 after buying an additional 111,066 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Novartis by 26.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after purchasing an additional 18,894 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Novartis by 20.1% in the 4th quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after purchasing an additional 5,164 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Novartis in the 4th quarter valued at $239,000. Finally, Arvest Bank Trust Division purchased a new stake in shares of Novartis in the third quarter worth about $2,674,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE NVS opened at $104.04 on Thursday. The firm has a market cap of $212.66 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. The stock has a fifty day simple moving average of $108.95 and a two-hundred day simple moving average of $106.59. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s payout ratio is 42.69%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVS shares. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Company 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.