Novartis AG $NVS Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Novartis AG (NYSE:NVS) by 18.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 537,543 shares of the company’s stock after purchasing an additional 82,226 shares during the period. JPMorgan Chase & Co.’s holdings in Novartis were worth $68,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in Novartis during the second quarter worth approximately $30,000. Valley Wealth Managers Inc. acquired a new stake in shares of Novartis during the 3rd quarter valued at $31,000. Quaker Wealth Management LLC boosted its stake in shares of Novartis by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 352 shares of the company’s stock worth $43,000 after acquiring an additional 704 shares in the last quarter. Country Trust Bank boosted its stake in shares of Novartis by 47.4% during the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock worth $44,000 after acquiring an additional 110 shares in the last quarter. Finally, Evelyn Partners Investment Management LLP grew its holdings in shares of Novartis by 28.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 448 shares of the company’s stock worth $54,000 after acquiring an additional 98 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE NVS opened at $167.10 on Wednesday. The company has a 50 day simple moving average of $148.02 and a 200-day simple moving average of $134.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.12 and a quick ratio of 0.89. The firm has a market capitalization of $352.98 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. Novartis AG has a 52-week low of $97.71 and a 52-week high of $167.86.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.85 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 11th will be issued a dividend of $4.773 per share. This represents a dividend yield of 312.0%. The ex-dividend date is Wednesday, March 11th. Novartis’s dividend payout ratio (DPR) is currently 36.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, February 5th. Wall Street Zen cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings upgraded shares of Novartis from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, February 6th. Finally, HSBC restated a “reduce” rating and issued a $112.00 price target on shares of Novartis in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $119.75.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.