Empire Financial Management Company LLC Buys 899 Shares of Novartis AG (NYSE:NVS)

Empire Financial Management Company LLC boosted its position in Novartis AG (NYSE:NVS) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,273 shares of the company’s stock after purchasing an additional 899 shares during the period. Empire Financial Management Company LLC’s holdings in Novartis were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Human Investing LLC purchased a new stake in Novartis during the fourth quarter valued at about $25,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis during the 4th quarter valued at approximately $27,000. Kestra Investment Management LLC bought a new position in Novartis in the 4th quarter worth approximately $47,000. Clearstead Trust LLC purchased a new position in Novartis in the 4th quarter valued at approximately $51,000. Finally, Brooklyn Investment Group bought a new stake in Novartis during the 4th quarter valued at $55,000. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NVS shares. Morgan Stanley began coverage on Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating for the company. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. BNP Paribas raised shares of Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Stock Down 1.2 %

Shares of NYSE:NVS opened at $110.05 on Thursday. The firm has a market capitalization of $232.48 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 52-week low of $96.06 and a 52-week high of $120.92. The firm has a fifty day moving average of $109.45 and a 200 day moving average of $106.26.

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

Novartis Dividend Announcement

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 was Wednesday, March 12th. Novartis’s payout ratio is presently 44.05%.

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.