Renaissance Technologies LLC Buys 368,171 Shares of Novartis AG (NYSE:NVS)

Renaissance Technologies LLC boosted its stake in Novartis AG (NYSE:NVS) by 16.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,668,849 shares of the company’s stock after purchasing an additional 368,171 shares during the quarter. Renaissance Technologies LLC’s holdings in Novartis were worth $259,706,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in Novartis by 8.0% during the fourth quarter. Legal & General Group Plc now owns 4,586 shares of the company’s stock worth $446,000 after purchasing an additional 339 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Novartis by 18.3% in the fourth quarter. Invesco Ltd. now owns 239,742 shares of the company’s stock worth $23,329,000 after acquiring an additional 37,016 shares during the last quarter. Certior Financial Group LLC bought a new position in Novartis in the 4th quarter valued at approximately $320,000. Quadrant Capital Group LLC increased its holdings in shares of Novartis by 2.0% during the fourth quarter. Quadrant Capital Group LLC now owns 18,100 shares of the company’s stock worth $1,761,000 after buying an additional 352 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Novartis by 6.8% during the 4th quarter. Russell Investments Group Ltd. now owns 10,070 shares of the company’s stock worth $980,000 after purchasing an additional 645 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NVS stock opened at $102.92 on Tuesday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a 50 day moving average of $109.01 and a 200-day moving average of $106.83. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $210.37 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 12th. Investors 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 is presently 42.69%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, Morgan Stanley began coverage on shares of Novartis in a report on Wednesday, February 12th. They set an “underweight” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.38.

About Novartis

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.