GAMMA Investing LLC Takes Position in Novartis AG (NYSE:NVS)

GAMMA Investing LLC purchased a new position in Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,464 shares of the company’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC grew its holdings in shares of Novartis by 6.9% during the third quarter. Caprock Group LLC now owns 15,921 shares of the company’s stock worth $1,622,000 after buying an additional 1,034 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of Novartis by 9.2% during the third quarter. Aaron Wealth Advisors LLC now owns 4,854 shares of the company’s stock worth $494,000 after buying an additional 408 shares in the last quarter. HWG Holdings LP grew its holdings in shares of Novartis by 5.6% during the third quarter. HWG Holdings LP now owns 2,418 shares of the company’s stock worth $246,000 after buying an additional 128 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Novartis by 0.8% during the third quarter. Simplicity Solutions LLC now owns 44,965 shares of the company’s stock worth $4,580,000 after buying an additional 342 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Novartis by 32.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,223 shares of the company’s stock worth $532,000 after buying an additional 1,291 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 1.1 %

Shares of NVS opened at $98.35 on Thursday. The company’s 50-day simple moving average is $97.93 and its 200-day simple moving average is $98.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 1.15. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78. The stock has a market capitalization of $201.03 billion, a PE ratio of 13.27, a P/E/G ratio of 1.58 and a beta of 0.54.

Novartis (NYSE:NVS) last released 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). Novartis had a return on equity of 31.12% and a net margin of 31.33%. The firm had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. Analysts forecast that Novartis AG will post 7.15 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, March 7th. Investors of record on Friday, March 8th were paid a dividend of $3.7772 per share. This represents a dividend yield of 3.1%. This is a positive change from Novartis’s previous annual dividend of $3.47. The ex-dividend date of this dividend was Thursday, March 7th. Novartis’s dividend payout ratio is presently 32.79%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVS. BMO Capital Markets boosted their price target on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday. 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 price target on the stock. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.00.

About Novartis

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.