Novartis AG $NVS Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its holdings in Novartis AG (NYSE:NVS) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,500 shares of the company’s stock after acquiring an additional 3,543 shares during the quarter. Perigon Wealth Management LLC’s holdings in Novartis were worth $2,826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Valley Wealth Managers Inc. purchased a new stake in Novartis during the 3rd quarter worth approximately $31,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Novartis in the third quarter worth $33,000. South Plains Financial Inc. lifted its stake in shares of Novartis by 39.0% during the third quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after buying an additional 76 shares during the period. Country Trust Bank increased its position in shares of Novartis by 47.4% in the 3rd quarter. Country Trust Bank now owns 342 shares of the company’s stock valued at $44,000 after acquiring an additional 110 shares during the period. Finally, Aventura Private Wealth LLC purchased a new position in Novartis in the 4th quarter worth $45,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NVS. DZ Bank downgraded Novartis from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, February 12th. JPMorgan Chase & Co. upgraded shares of Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Finally, Citigroup reissued a “buy” rating on shares of Novartis in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $141.20.

Novartis Price Performance

Shares of NVS opened at $153.91 on Friday. The business’s 50-day moving average is $156.69 and its two-hundred day moving average is $140.86. The company has a market capitalization of $325.13 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.64 and a beta of 0.52. Novartis AG has a fifty-two week low of $97.71 and a fifty-two week high of $170.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 1.12.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, February 3rd. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $13.85 billion. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. Research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, March 11th were paid a dividend of $4.773 per share. This represents a yield of 306.0%. The ex-dividend date was Wednesday, March 11th. Novartis’s payout ratio is 43.02%.

Novartis Profile

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.