OLD National Bancorp IN Has $1.33 Million Position in Novartis AG (NYSE:NVS)

OLD National Bancorp IN reduced its holdings in Novartis AG (NYSE:NVS) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,172 shares of the company’s stock after selling 569 shares during the period. OLD National Bancorp IN’s holdings in Novartis were worth $1,330,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NVS. Operose Advisors LLC bought a new stake in Novartis in the third quarter valued at approximately $28,000. Planned Solutions Inc. bought a new stake in Novartis in the fourth quarter valued at approximately $31,000. AdvisorNet Financial Inc increased its stake in Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Novartis in the third quarter valued at approximately $39,000. Finally, Adirondack Trust Co. increased its stake in Novartis by 69.1% in the third quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock valued at $40,000 after purchasing an additional 159 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVS. BMO Capital Markets began coverage on shares of Novartis in a research report on Friday, February 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Morgan Stanley began coverage on shares of Novartis in a research report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Novartis Stock Up 2.3 %

Novartis stock opened at $97.29 on Wednesday. The company has a market cap of $198.86 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.55 and a beta of 0.54. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The company has a fifty day simple moving average of $97.95 and a 200 day simple moving average of $98.99. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). The business had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. Novartis had a net margin of 29.83% and a return on equity of 29.90%. During the same period last year, the business posted $1.51 EPS. Research analysts anticipate that Novartis AG will post 7.13 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were paid a $3.7772 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a yield of 3.1%. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio (DPR) is currently 33.84%.

About Novartis

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.