Novartis AG (NYSE:NVS) Shares Acquired by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC grew its stake in Novartis AG (NYSE:NVS) by 39.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,045 shares of the company’s stock after purchasing an additional 1,428 shares during the period. Hartford Funds Management Co LLC’s holdings in Novartis were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVS. Operose Advisors LLC acquired a new position in Novartis during the third quarter worth $28,000. Planned Solutions Inc. acquired a new position in Novartis during the fourth quarter worth $31,000. AdvisorNet Financial Inc grew its holdings in Novartis by 480.0% during the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after acquiring an additional 288 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Novartis during the third quarter worth $39,000. Finally, Adirondack Trust Co. grew its holdings in Novartis by 69.1% during the third quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BMO Capital Markets lifted their price target on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Morgan Stanley initiated coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price on the stock.

Novartis Stock Performance

Shares of NYSE:NVS traded up $0.04 during midday trading on Tuesday, hitting $97.13. The company’s stock had a trading volume of 1,359,879 shares, compared to its average volume of 1,567,847. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78. The stock has a market capitalization of $198.53 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.57 and a beta of 0.54. The stock’s 50 day simple moving average is $97.69 and its 200 day simple moving average is $98.98. 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 (NYSE:NVS) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). The firm had revenue of $11.42 billion during the quarter, compared to analyst estimates of $11.69 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. During the same period last year, the firm earned $1.51 EPS. As a group, research analysts anticipate that Novartis AG will post 7.22 earnings per share for the current year.

Novartis Increases Dividend

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

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.