Carret Asset Management LLC Has $4.18 Million Position in Novartis AG (NYSE:NVS)

Carret Asset Management LLC lowered its position in Novartis AG (NYSE:NVS) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,349 shares of the company’s stock after selling 442 shares during the quarter. Carret Asset Management LLC’s holdings in Novartis were worth $4,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in shares of Novartis in the third quarter valued at approximately $28,000. Planned Solutions Inc. acquired a new stake in Novartis during the 4th quarter valued at approximately $31,000. AdvisorNet Financial Inc grew its position in shares of Novartis by 480.0% during the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after buying an additional 288 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Novartis during the 3rd quarter worth approximately $39,000. Finally, Adirondack Trust Co. grew its position in shares of Novartis by 69.1% during the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

NVS traded up $1.07 during trading hours on Wednesday, hitting $98.35. The stock had a trading volume of 2,233,162 shares, compared to its average volume of 1,549,095. The company’s fifty day simple moving average is $97.95 and its 200 day simple moving average is $98.99. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78. The stock has a market cap of $201.03 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.55 and a beta of 0.54. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39.

Novartis (NYSE:NVS) last posted 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 company had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Novartis had a net margin of 29.83% and a return on equity of 29.90%. During the same period in the previous year, the firm earned $1.51 EPS. Equities analysts anticipate that Novartis AG will post 7.13 earnings per share for the current year.

Novartis Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were issued a dividend of $3.7772 per share. This represents a 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 payout ratio is presently 33.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NVS shares. Morgan Stanley started coverage on Novartis in a report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price on the stock. BMO Capital Markets raised their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Novartis 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.