CoreCap Advisors LLC Buys 523 Shares of Novartis AG (NYSE:NVS)

CoreCap Advisors LLC increased its stake in shares of Novartis AG (NYSE:NVS) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,079 shares of the company’s stock after purchasing an additional 523 shares during the quarter. CoreCap Advisors LLC’s holdings in Novartis were worth $202,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Novartis by 35.6% in the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock valued at $41,176,000 after buying an additional 111,066 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Novartis by 26.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company’s stock valued at $8,668,000 after buying an additional 18,894 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Novartis in the fourth quarter valued at approximately $239,000. Agate Pass Investment Management LLC acquired a new position in Novartis in the fourth quarter valued at approximately $702,000. Finally, Flywheel Private Wealth LLC acquired a new position in Novartis in the fourth quarter valued at approximately $272,000. 13.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. 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 shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Stock Down 1.3%

Shares of NVS stock opened at $108.68 on Monday. The firm has a fifty day moving average of $110.25 and a 200-day moving average of $105.84. The company has a quick ratio of 0.84, a current ratio of 1.04 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. The company has a market capitalization of $229.58 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.70 and a beta of 0.60.

Novartis (NYSE:NVS) last released its earnings results 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. The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were given a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is currently 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.