Novartis AG $NVS Position Raised by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its stake in Novartis AG (NYSE:NVS) by 8.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274,950 shares of the company’s stock after purchasing an additional 21,100 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Novartis were worth $35,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Novartis in the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in shares of Novartis in the 3rd quarter worth about $31,000. Country Trust Bank increased its holdings in Novartis by 47.4% during the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after purchasing an additional 110 shares in the last quarter. Evelyn Partners Investment Management LLP increased its holdings in shares of Novartis by 28.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 448 shares of the company’s stock valued at $54,000 after purchasing an additional 98 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Novartis by 1,804.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 457 shares of the company’s stock worth $61,000 after purchasing an additional 433 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen reissued a “hold” rating on shares of Novartis in a research note on Tuesday, February 17th. Weiss Ratings upgraded Novartis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, February 6th. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a research report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. raised Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $119.75.

Novartis Stock Down 1.0%

Shares of NYSE:NVS opened at $166.96 on Tuesday. The company has a market capitalization of $352.68 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 2.58 and a beta of 0.49. Novartis AG has a 1 year low of $97.71 and a 1 year high of $170.46. The business’s 50-day moving average is $150.51 and its 200-day moving average is $136.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.12 and a quick ratio of 0.89.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, February 4th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Novartis had a return on equity of 40.53% and a net margin of 25.65%.The business had revenue of $13.86 billion during the quarter, compared to analyst estimates of $13.85 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, March 11th will be given a dividend of $4.773 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 312.0%. Novartis’s dividend payout ratio (DPR) is currently 36.31%.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.