Scotia Capital Inc. Increases Stock Position in Novartis AG (NYSE:NVS)

Scotia Capital Inc. grew its stake in Novartis AG (NYSE:NVS) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,747 shares of the company’s stock after buying an additional 218 shares during the period. Scotia Capital Inc.’s holdings in Novartis were worth $4,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Yale Capital Corp. grew its position in Novartis by 7.9% in the fourth quarter. Texas Yale Capital Corp. now owns 3,952 shares of the company’s stock worth $385,000 after acquiring an additional 290 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock worth $259,706,000 after purchasing an additional 368,171 shares in the last quarter. Legal & General Group Plc increased its position in shares of Novartis by 8.0% during the 4th quarter. Legal & General Group Plc now owns 4,586 shares of the company’s stock valued at $446,000 after purchasing an additional 339 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Novartis by 18.3% during the 4th quarter. Invesco Ltd. now owns 239,742 shares of the company’s stock valued at $23,329,000 after buying an additional 37,016 shares in the last quarter. Finally, Certior Financial Group LLC bought a new stake in Novartis in the 4th quarter worth approximately $320,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Novartis stock opened at $107.54 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $219.82 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.70 and a beta of 0.56. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The firm has a 50-day moving average of $108.96 and a 200-day moving average of $106.44.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s payout ratio is currently 42.69%.

Wall Street Analyst Weigh In

A number of research analysts have commented on NVS shares. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. Finally, StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.38.

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.