Bridgefront Capital LLC Invests $842,000 in Novartis AG (NYSE:NVS)

Bridgefront Capital LLC acquired a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,655 shares of the company's stock, valued at approximately $842,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new position in Novartis in the fourth quarter valued at about $109,739,000. Raymond James Financial Inc. acquired a new stake in Novartis in the 4th quarter valued at approximately $88,339,000. Northern Trust Corp lifted its stake in shares of Novartis by 23.1% in the 4th quarter. Northern Trust Corp now owns 2,132,591 shares of the company's stock worth $207,522,000 after acquiring an additional 399,862 shares during the period. Renaissance Technologies LLC raised its stake in shares of Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company's stock worth $259,706,000 after buying an additional 368,171 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Novartis by 17.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company's stock valued at $194,908,000 after purchasing an additional 296,950 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

Novartis stock traded up $1.25 during trading hours on Wednesday, reaching $111.80. 1,475,989 shares of the stock were exchanged, compared to its average volume of 1,564,814. The stock has a 50 day moving average of $110.32 and a two-hundred day moving average of $106.03. 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 AG has a twelve month low of $96.06 and a twelve month high of $120.92. The company has a market cap of $236.17 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.12 by $0.16. Novartis had a return on equity of 37.24% and a net margin of 23.56%. The firm had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned $1.80 earnings per share. The business's quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's payout ratio is 40.47%.

Wall Street Analyst Weigh In

NVS has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on shares of Novartis in a report on Wednesday, February 12th. They set an "underweight" rating on the stock. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research report on Thursday, February 13th. BNP Paribas raised shares of Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Barclays reiterated an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $123.38.

Novartis 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.