Tyche Wealth Partners LLC Invests $216,000 in Novartis AG (NYSE:NVS)

Tyche Wealth Partners LLC purchased a new position in shares of Novartis AG (NYSE:NVS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,137 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds also recently modified their holdings of the company. Aaron Wealth Advisors LLC lifted its holdings in shares of Novartis by 21.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after purchasing an additional 1,050 shares during the period. Syon Capital LLC bought a new position in Novartis during the third quarter worth $6,568,000. Prime Capital Investment Advisors LLC raised its stake in Novartis by 368.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock worth $2,045,000 after buying an additional 15,927 shares during the last quarter. Cerity Partners LLC raised its stake in Novartis by 30.8% during the fourth quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock worth $25,021,000 after buying an additional 58,395 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Novartis by 8.1% during the third quarter. Mather Group LLC. now owns 7,763 shares of the company’s stock worth $791,000 after buying an additional 580 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE NVS opened at $92.57 on Friday. Novartis AG has a twelve month low of $92.19 and a twelve month high of $108.78. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $196.21 billion, a PE ratio of 12.89, a P/E/G ratio of 1.45 and a beta of 0.54. The firm has a fifty day simple moving average of $98.22 and a 200 day simple moving average of $99.03.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a net margin of 29.83% and a return on equity of 29.90%. The company had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period last year, the firm posted $1.51 earnings per share. On average, sell-side analysts forecast that Novartis AG will post 7.15 EPS for the current year.

Novartis Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were paid a $3.7772 dividend. This is an increase from Novartis’s previous annual dividend of $3.47. This represents a yield of 3.1%. The ex-dividend date was Thursday, March 7th. Novartis’s payout ratio is 33.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVS. BMO Capital Markets began coverage on shares of Novartis in a research note on Friday, February 23rd. They set a “market perform” rating and a $114.00 target price for the company. Morgan Stanley began coverage on shares of Novartis in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 target price for the company. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.33.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. It 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.