AE Wealth Management LLC Has $3.36 Million Stock Holdings in Novartis AG (NYSE:NVS)

Posted by Defense World Staff on Apr 19th, 2023

AE Wealth Management LLC increased its stake in shares of Novartis AG (NYSE:NVS – Get Rating) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,059 shares of the company’s stock after purchasing an additional 3,523 shares during the quarter. AE Wealth Management LLC’s holdings in Novartis were worth $3,362,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in Novartis during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in Novartis by 2,018.8% during the 4th quarter. Financial Management Professionals Inc. now owns 339 shares of the company’s stock worth $31,000 after acquiring an additional 323 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Novartis by 42.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 441 shares of the company’s stock worth $34,000 after acquiring an additional 132 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Novartis during the 3rd quarter worth approximately $36,000. Finally, Front Row Advisors LLC grew its holdings in Novartis by 38.3% during the 3rd quarter. Front Row Advisors LLC now owns 498 shares of the company’s stock worth $38,000 after acquiring an additional 138 shares during the last quarter. 8.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.7 %

Novartis stock opened at $97.32 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. Novartis AG has a 12-month low of $74.09 and a 12-month high of $98.35. The firm’s fifty day moving average is $87.95 and its 200 day moving average is $86.77. The company has a market capitalization of $215.33 billion, a PE ratio of 30.70, a PEG ratio of 1.76 and a beta of 0.54.

Novartis (NYSE:NVS – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.09. Novartis had a net margin of 13.75% and a return on equity of 21.79%. The company had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.85 billion. As a group, sell-side analysts predict that Novartis AG will post 6.55 EPS for the current fiscal year.

Novartis Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, March 20th. Investors of record on Friday, March 10th were given a dividend of $3.4694 per share. This represents a dividend yield of 2.6%. The ex-dividend date was Thursday, March 9th. This is an increase from Novartis’s previous annual dividend of $1.18. Novartis’s payout ratio is presently 71.61%.

Analysts Set New Price Targets

NVS has been the topic of a number of research reports. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “sell” rating to a “hold” rating in a report on Monday, March 27th. JPMorgan Chase & Co. raised shares of Novartis from an “underweight” rating to a “neutral” rating in a report on Tuesday, January 3rd. Citigroup lowered shares of Novartis from a “buy” rating to a “neutral” rating in a research note on Thursday, January 26th. Finally, StockNews.com began coverage on shares of Novartis in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average target price of $82.63.

Novartis Company Profile

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Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.