Juncture Wealth Strategies LLC Grows Holdings in Novartis AG (NVS)
Juncture Wealth Strategies LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 38.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,400 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Juncture Wealth Strategies LLC’s holdings in Novartis were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC purchased a new position in shares of Novartis in the 4th quarter valued at $30,000. Laurel Wealth Advisors LLC purchased a new position in shares of Novartis in the 4th quarter valued at $35,000. Executive Wealth Management LLC purchased a new position in shares of Novartis in the 4th quarter valued at $36,000. Legacy Advisors LLC purchased a new position in shares of Novartis in the 1st quarter valued at $38,000. Finally, Sonora Investment Management LLC increased its holdings in shares of Novartis by 93.9% in the 4th quarter. Sonora Investment Management LLC now owns 479 shares of the company’s stock valued at $41,000 after acquiring an additional 232 shares during the period. Institutional investors own 11.68% of the company’s stock.
In other Novartis news, major shareholder Bioventures Ltd Novartis sold 43,800 shares of Novartis stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $1.92, for a total transaction of $84,096.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 642,738 shares of company stock valued at $820,475. 0.01% of the stock is currently owned by insiders.
Novartis (NYSE:NVS) last posted its quarterly earnings data on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.09). The business had revenue of $13.27 billion during the quarter, compared to analyst estimates of $13.33 billion. Novartis had a return on equity of 15.66% and a net margin of 24.30%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. As a group, equities research analysts expect that Novartis AG will post 5.34 EPS for the current fiscal year.
The company also recently declared an annual dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, March 5th were given a dividend of $2.8646 per share. The ex-dividend date was Monday, March 4th. This represents a yield of 3.27%. This is a boost from Novartis’s previous annual dividend of $2.33. Novartis’s payout ratio is currently 36.15%.
A number of research firms have recently weighed in on NVS. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, December 18th. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price objective on shares of Novartis in a research report on Tuesday, December 11th. Credit Suisse Group cut Novartis to a “sell” rating in a research report on Thursday, December 20th. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $90.94.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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