Summit Trail Advisors LLC Raises Stock Holdings in Novartis AG (NYSE:NVS)

Summit Trail Advisors LLC raised its stake in Novartis AG (NYSE:NVS) by 18.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,323 shares of the company’s stock after purchasing an additional 685 shares during the period. Summit Trail Advisors LLC’s holdings in Novartis were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NVS. Connecticut Wealth Management LLC boosted its position in shares of Novartis by 6.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,522 shares of the company’s stock worth $255,000 after purchasing an additional 151 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Novartis by 0.9% during the fourth quarter. National Bank of Canada FI now owns 141,084 shares of the company’s stock valued at $14,276,000 after acquiring an additional 1,220 shares in the last quarter. Henry James International Management Inc. boosted its stake in Novartis by 44.4% in the 4th quarter. Henry James International Management Inc. now owns 20,830 shares of the company’s stock worth $2,103,000 after purchasing an additional 6,404 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in Novartis by 16.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 16,866 shares of the company’s stock worth $1,703,000 after purchasing an additional 2,366 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of Novartis by 16.8% in the fourth quarter. Legacy Financial Advisors Inc. now owns 10,744 shares of the company’s stock worth $1,085,000 after buying an additional 1,548 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Novartis Price Performance

Shares of NVS opened at $99.67 on Wednesday. The company has a market capitalization of $203.73 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.56 and a beta of 0.53. The business’s 50-day moving average is $97.16 and its two-hundred day moving average is $99.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78.

Novartis Increases Dividend

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

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.