Avantax Advisory Services Inc. Purchases 2,835 Shares of Novartis AG (NYSE:NVS)

Avantax Advisory Services Inc. lifted its position in shares of Novartis AG (NYSE:NVS) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,938 shares of the company’s stock after purchasing an additional 2,835 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Novartis were worth $2,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the third quarter worth $28,000. Human Investing LLC acquired a new stake in shares of Novartis during the fourth quarter worth $25,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis during the fourth quarter worth $27,000. Kestra Investment Management LLC acquired a new stake in shares of Novartis during the fourth quarter worth $47,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Novartis during the fourth quarter worth $55,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVS has been the topic of a number of research analyst reports. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley began coverage on shares of Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Novartis currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Up 0.0 %

Novartis stock opened at $109.15 on Friday. The firm has a market capitalization of $223.10 billion, a PE ratio of 18.56, a P/E/G ratio of 1.70 and a beta of 0.53. The company’s 50-day moving average is $105.36 and its 200-day moving average is $107.68. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Sell-side analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were paid a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is presently 42.69%.

Novartis Company 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.