Novartis AG (NYSE:NVS) Holdings Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in shares of Novartis AG (NYSE:NVS) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,127 shares of the company’s stock after purchasing an additional 420 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Novartis were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVS. Human Investing LLC bought a new position in shares of Novartis during the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis during the 4th quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in Novartis in the third quarter worth $28,000. Kestra Investment Management LLC bought a new stake in Novartis in the fourth quarter valued at $47,000. Finally, Brooklyn Investment Group acquired a new position in shares of Novartis during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.38.

Novartis Price Performance

NYSE:NVS opened at $109.15 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $105.36 and its 200 day moving average price is $107.68. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a market cap of $223.10 billion, a P/E ratio of 18.56, a PEG ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last released its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

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

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.