Independence Bank of Kentucky Has $163,000 Stock Holdings in Novartis AG (NYSE:NVS)

Independence Bank of Kentucky grew its holdings in Novartis AG (NYSE:NVSFree Report) by 708.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,617 shares of the company’s stock after buying an additional 1,417 shares during the quarter. Independence Bank of Kentucky’s holdings in Novartis were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. Moneta Group Investment Advisors LLC increased its stake in shares of Novartis by 102,209.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,522,057 shares of the company’s stock valued at $410,241,000 after buying an additional 4,517,637 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in 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 worth $186,125,000 after purchasing an additional 1,144,307 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Novartis by 103.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,992,558 shares of the company’s stock worth $174,847,000 after purchasing an additional 1,010,806 shares during the period. Envestnet Asset Management Inc. increased its position in 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 during the period. Finally, Goldman Sachs Group Inc. increased its position in Novartis by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,781,596 shares of the company’s stock worth $244,085,000 after purchasing an additional 594,194 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NVS opened at $94.38 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78. The stock has a market cap of $200.05 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.47 and a beta of 0.54. The stock’s 50-day moving average price is $100.79 and its two-hundred day moving average price is $99.62.

Novartis (NYSE:NVSGet Free Report) last issued its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a return on equity of 29.90% and a net margin of 29.83%. The company had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the business posted $1.51 EPS. On average, equities analysts predict that Novartis AG will post 7.17 earnings per share for the current year.

Novartis Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were issued a dividend of $3.7772 per share. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s payout ratio is 34.26%.

Analysts Set New Price Targets

NVS has been the subject of a number of research reports. Morgan Stanley initiated coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price objective for the company. BMO Capital Markets initiated coverage on Novartis in a research report on Friday, February 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. StockNews.com initiated coverage on Novartis in a research report on Wednesday, December 6th. They issued a “strong-buy” rating for the company. Finally, HSBC lowered Novartis from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.33.

Check Out Our Latest Research Report on Novartis

About Novartis

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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