Perigon Wealth Management LLC Boosts Stock Position in Novartis AG (NYSE:NVS)

Perigon Wealth Management LLC increased its stake in Novartis AG (NYSE:NVS – Get Rating) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,744 shares of the company’s stock after buying an additional 135 shares during the period. Perigon Wealth Management LLC’s holdings in Novartis were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVS. Activest Wealth Management bought a new position in Novartis in the 3rd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC lifted its position in Novartis by 146.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 370 shares of the company’s stock valued at $31,000 after acquiring an additional 220 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in Novartis by 42.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 441 shares of the company’s stock valued at $34,000 after acquiring an additional 132 shares in the last quarter. Penserra Capital Management LLC bought a new position in Novartis in the 3rd quarter valued at approximately $36,000. Finally, Front Row Advisors LLC lifted its position in Novartis by 38.3% in the 3rd quarter. Front Row Advisors LLC now owns 498 shares of the company’s stock valued at $38,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 8.12% of the company’s stock.

Novartis Trading Down 0.7 %

Shares of NVS stock opened at $82.19 on Friday. Novartis AG has a 52-week low of $74.09 and a 52-week high of $94.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.29. The firm has a market capitalization of $181.85 billion, a PE ratio of 25.93, a PEG ratio of 1.60 and a beta of 0.52. The stock has a fifty day simple moving average of $87.11 and a two-hundred day simple moving average of $84.75.

Novartis Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, March 20th. Shareholders of record on Friday, March 10th will be paid a $3.4694 dividend. This represents a yield of 2.6%. The ex-dividend date is Thursday, March 9th. This is a positive change from Novartis’s previous annual dividend of $1.18. Novartis’s dividend payout ratio is presently 71.61%.

Wall Street Analyst Weigh In

NVS has been the topic of several analyst reports. StockNews.com initiated coverage on Novartis in a research report on Thursday. They issued a “strong-buy” rating on the stock. Citigroup cut Novartis from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Stifel Nicolaus raised Novartis from a “hold” rating to a “buy” rating in a report on Monday, December 5th. JPMorgan Chase & Co. raised Novartis from an “underweight” rating to a “neutral” rating in a report on Tuesday, January 3rd. Finally, UBS Group increased their price target on Novartis from CHF 82 to CHF 84 and gave the company a “neutral” rating in a report on Wednesday, December 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and an average price target of $82.63.

Novartis Company Profile

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Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.