Kahn Brothers Group Inc. Boosts Stake in Novartis AG (NYSE:NVS)

Kahn Brothers Group Inc. grew its position in shares of Novartis AG (NYSE:NVS) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,181 shares of the company’s stock after acquiring an additional 3,600 shares during the quarter. Novartis comprises 0.4% of Kahn Brothers Group Inc.’s portfolio, making the stock its 17th biggest position. Kahn Brothers Group Inc.’s holdings in Novartis were worth $2,061,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Human Investing LLC acquired a new stake in shares of Novartis in the fourth quarter worth $25,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis in the 4th quarter valued at $27,000. Bellwether Advisors LLC acquired a new position in shares of Novartis during the fourth quarter worth about $38,000. Kestra Investment Management LLC acquired a new stake in shares of Novartis in the fourth quarter valued at about $47,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Novartis during the 4th quarter valued at about $51,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVS. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley began coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Finally, BNP Paribas raised shares of Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Stock Performance

NVS stock opened at $108.68 on Friday. The firm has a market cap of $229.58 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.70 and a beta of 0.60. The stock’s 50 day simple moving average is $110.25 and its 200 day simple moving average is $105.89. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 12-month low of $96.06 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.16. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were issued a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 40.47%.

Novartis Company 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.