Novartis AG (NYSE:NVS) Shares Sold by Community Bank N.A.

Community Bank N.A. decreased its holdings in shares of Novartis AG (NYSE:NVS) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,628 shares of the company’s stock after selling 1,000 shares during the period. Community Bank N.A.’s holdings in Novartis were worth $164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. Operose Advisors LLC bought a new stake in shares of Novartis in the 3rd quarter worth about $28,000. Planned Solutions Inc. bought a new stake in shares of Novartis in the 4th quarter worth about $31,000. AdvisorNet Financial Inc increased its position in shares of Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Novartis in the 3rd quarter worth about $39,000. Finally, Adirondack Trust Co. increased its position in shares of Novartis by 69.1% in the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock worth $40,000 after purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Novartis stock traded up $0.62 during midday trading on Thursday, reaching $98.97. 1,613,229 shares of the stock traded hands, compared to its average volume of 1,552,049. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $97.93 and a two-hundred day moving average price of $98.99. The firm has a market cap of $202.29 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.58 and a beta of 0.54. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). The company had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. Novartis had a net margin of 31.33% and a return on equity of 31.12%. During the same quarter last year, the business earned $1.51 earnings per share. On average, equities research analysts forecast that Novartis AG will post 7.15 earnings per share for the current year.

Novartis Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, March 7th. Investors of record on Friday, March 8th were issued a dividend of $3.7772 per share. This represents a yield of 3.1%. This is a boost 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 (DPR) is presently 32.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVS. BMO Capital Markets boosted their target price on shares of Novartis from $114.00 to $116.00 and gave the stock 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 objective for the company. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

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.