Edge Capital Group LLC Invests $9.23 Million in Novartis AG (NVS) Stock

Edge Capital Group LLC bought a new stake in Novartis AG (NYSE:NVS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 107,589 shares of the company’s stock, valued at approximately $9,232,000. Novartis comprises about 1.0% of Edge Capital Group LLC’s holdings, making the stock its 18th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perennial Advisors LLC lifted its holdings in Novartis by 12.2% in the fourth quarter. Perennial Advisors LLC now owns 13,682 shares of the company’s stock valued at $1,174,000 after acquiring an additional 1,485 shares during the period. Ipswich Investment Management Co. Inc. lifted its holdings in Novartis by 17.0% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 29,463 shares of the company’s stock valued at $2,528,000 after acquiring an additional 4,278 shares during the period. Raymond James Trust N.A. lifted its holdings in Novartis by 41.8% in the third quarter. Raymond James Trust N.A. now owns 47,271 shares of the company’s stock valued at $4,072,000 after acquiring an additional 13,938 shares during the period. Blair William & Co. IL lifted its holdings in Novartis by 0.8% in the third quarter. Blair William & Co. IL now owns 174,778 shares of the company’s stock valued at $15,059,000 after acquiring an additional 1,463 shares during the period. Finally, Patten & Patten Inc. TN lifted its holdings in Novartis by 5.1% in the fourth quarter. Patten & Patten Inc. TN now owns 68,100 shares of the company’s stock valued at $5,844,000 after acquiring an additional 3,310 shares during the period. Hedge funds and other institutional investors own 11.67% of the company’s stock.

In related news, major shareholder Bioventures Ltd Novartis sold 43,800 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $1.92, for a total value of $84,096.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.01% of the company’s stock.

Shares of NVS stock opened at $92.99 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.97. The company has a market cap of $215.22 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. Novartis AG has a 1-year low of $72.30 and a 1-year high of $93.70.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, January 30th. The company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). The business had revenue of $13.27 billion for 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. On average, sell-side analysts forecast that Novartis AG will post 5.34 earnings per share for the current fiscal year.

The firm also recently announced an annual dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were paid a dividend of $2.8646 per share. This represents a dividend yield of 3.27%. This is an increase from Novartis’s previous annual dividend of $2.33. The ex-dividend date of this dividend was Monday, March 4th. Novartis’s dividend payout ratio is presently 36.15%.

Several brokerages have recently weighed in on NVS. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Wednesday, November 28th. Credit Suisse Group downgraded Novartis to a “sell” rating in a research note on Thursday, December 20th. Cowen raised Novartis from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Monday, November 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 target price on shares of Novartis in a research note on Tuesday, December 11th. Finally, Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, December 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $90.94.

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Novartis Profile

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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