First Trust Advisors LP Increases Stock Position in Novartis AG $NVS

Key Points

• First Trust Advisors increased its stake in Novartis by 8.6% in Q3, holding 455,003 shares worth about $58.35 million after buying an additional 35,969 shares.
• Wall Street ratings are mixed with an average consensus of "Hold" and a consensus target price of $119.75, well below the stock's recent trading level.
• Novartis reported a slight quarterly EPS beat (EPS $2.03 vs. $1.99 expected) and announced an annual dividend of $4.773 payable March 16.

First Trust Advisors LP increased its holdings in Novartis AG (NYSE:NVS - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 455,003 shares of the company's stock after buying an additional 35,969 shares during the period. First Trust Advisors LP's holdings in Novartis were worth $58,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in Novartis during the 3rd quarter worth about $31,000. Country Trust Bank grew its holdings in Novartis by 47.4% during the 3rd quarter. Country Trust Bank now owns 342 shares of the company's stock valued at $44,000 after buying an additional 110 shares in the last quarter. Evelyn Partners Investment Management LLP increased its position in shares of Novartis by 28.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 448 shares of the company's stock valued at $54,000 after buying an additional 98 shares during the period. Traub Capital Management LLC purchased a new stake in shares of Novartis in the second quarter worth about $57,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Novartis by 1,804.2% in the third quarter. Salomon & Ludwin LLC now owns 457 shares of the company's stock worth $61,000 after buying an additional 433 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Novartis in a research note on Thursday, February 12th. Barclays raised shares of Novartis from an "underweight" rating to an "equal weight" rating in a report on Tuesday, January 6th. Citigroup restated a "buy" rating on shares of Novartis in a research report on Thursday, February 5th. Bank of America raised shares of Novartis from a "neutral" rating to a "buy" rating in a report on Tuesday, November 25th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Novartis in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $119.75.

Novartis Stock Performance

Novartis stock opened at $161.64 on Wednesday. Novartis AG has a fifty-two week low of $97.71 and a fifty-two week high of $170.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 1.12. The stock has a market cap of $341.45 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The firm's fifty day moving average price is $153.38 and its 200-day moving average price is $137.80.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $13.85 billion. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. On average, equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, March 11th will be issued a $4.773 dividend. This represents a dividend yield of 295.0%. The ex-dividend date is Wednesday, March 11th. Novartis's dividend payout ratio is presently 36.31%.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

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