National Bank of Canada FI Increases Stake in Novartis AG (NYSE:NVS)

National Bank of Canada FI lifted its stake in Novartis AG (NYSE:NVS) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,084 shares of the company’s stock after purchasing an additional 1,220 shares during the quarter. National Bank of Canada FI’s holdings in Novartis were worth $14,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVS. Park Avenue Securities LLC raised its position in shares of Novartis by 5.0% in the 3rd quarter. Park Avenue Securities LLC now owns 30,083 shares of the company’s stock valued at $3,064,000 after purchasing an additional 1,442 shares during the last quarter. Whittier Trust Co. raised its position in shares of Novartis by 0.8% in the 3rd quarter. Whittier Trust Co. now owns 47,930 shares of the company’s stock valued at $4,882,000 after purchasing an additional 381 shares during the last quarter. TIAA Trust National Association acquired a new position in Novartis in the 3rd quarter worth approximately $725,000. Brady Family Wealth LLC increased its holdings in Novartis by 3.4% in the 3rd quarter. Brady Family Wealth LLC now owns 3,370 shares of the company’s stock worth $343,000 after buying an additional 110 shares during the period. Finally, Angeles Wealth Management LLC increased its holdings in Novartis by 12.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,254 shares of the company’s stock worth $331,000 after buying an additional 365 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

NVS opened at $99.62 on Thursday. The firm has a fifty day moving average price of $97.16 and a 200 day moving average price of $99.05. 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 $203.62 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.56 and a beta of 0.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71.

Novartis Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were given a $3.7772 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.1%. This is an increase from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio is 32.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Novartis in a report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target on the stock. BMO Capital Markets increased their price target on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th.

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.