New York State Common Retirement Fund Boosts Holdings in Novartis AG (NYSE:NVS)

New York State Common Retirement Fund raised its holdings in Novartis AG (NYSE:NVS) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,630 shares of the company’s stock after purchasing an additional 12,147 shares during the period. New York State Common Retirement Fund’s holdings in Novartis were worth $9,656,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Operose Advisors LLC acquired a new stake in Novartis during the 3rd quarter valued at $28,000. Planned Solutions Inc. acquired a new stake in shares of Novartis during the fourth quarter valued at $31,000. AdvisorNet Financial Inc boosted its stake in shares of Novartis by 480.0% during the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Novartis during the 3rd quarter worth about $39,000. Finally, Adirondack Trust Co. raised its stake in Novartis by 69.1% in the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock valued at $40,000 after purchasing an additional 159 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Up 0.4 %

Shares of NYSE:NVS opened at $97.49 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The firm has a market cap of $199.27 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.55 and a beta of 0.54. The stock’s 50-day moving average price is $97.59 and its two-hundred day moving average price is $98.97. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78.

Novartis (NYSE:NVS) last released its 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). Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.42 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the business posted $1.51 earnings per share. On average, research analysts forecast that Novartis AG will post 7.26 EPS for the current year.

Novartis Increases Dividend

The business 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. The ex-dividend date was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. This represents a dividend yield of 3.1%. Novartis’s payout ratio is currently 32.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVS shares. BMO Capital Markets raised their price target on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. 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 target price on the stock.

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.