International Assets Investment Management LLC Has $15.08 Million Stake in Novartis AG (NYSE:NVS)

International Assets Investment Management LLC grew its holdings in shares of Novartis AG (NYSE:NVS) by 6,599.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 149,395 shares of the company’s stock after acquiring an additional 147,165 shares during the quarter. International Assets Investment Management LLC’s holdings in Novartis were worth $15,084,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NVS. Murphy Middleton Hinkle & Parker Inc. grew its holdings in Novartis by 4.9% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,072 shares of the company’s stock worth $209,000 after purchasing an additional 97 shares during the period. Optimum Investment Advisors boosted its holdings in Novartis by 23.3% in the fourth quarter. Optimum Investment Advisors now owns 530 shares of the company’s stock worth $54,000 after acquiring an additional 100 shares in the last quarter. Chesley Taft & Associates LLC grew its stake in Novartis by 0.3% in the fourth quarter. Chesley Taft & Associates LLC now owns 33,062 shares of the company’s stock valued at $3,338,000 after acquiring an additional 100 shares during the period. Means Investment CO. Inc. increased its holdings in shares of Novartis by 1.3% during the fourth quarter. Means Investment CO. Inc. now owns 8,074 shares of the company’s stock valued at $815,000 after acquiring an additional 103 shares in the last quarter. Finally, Brady Family Wealth LLC lifted its holdings in shares of Novartis by 3.4% in the 3rd quarter. Brady Family Wealth LLC now owns 3,370 shares of the company’s stock worth $343,000 after purchasing an additional 110 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 0.1 %

Shares of NVS stock opened at $97.27 on Friday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $97.35 and a 200-day moving average of $98.96. The firm has a market cap of $198.82 billion, a P/E ratio of 13.13, a PEG ratio of 1.56 and a beta of 0.53.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.11). Novartis had a net margin of 31.33% and a return on equity of 32.15%. The firm had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Sell-side analysts anticipate that Novartis AG will post 7.26 earnings per share for the current year.

Novartis Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Investors of record on Friday, March 8th were paid a $3.7772 dividend. This is a boost 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 currently 32.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th.

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.