Atria Investments Inc Has $7.50 Million Position in Novartis AG $NVS

Atria Investments Inc boosted its stake in shares of Novartis AG (NYSE:NVS) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,465 shares of the company’s stock after acquiring an additional 5,179 shares during the period. Atria Investments Inc’s holdings in Novartis were worth $7,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Fisher Asset Management LLC raised its position in shares of Novartis by 5.3% in the 2nd quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after buying an additional 358,282 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Novartis by 1.4% in the second quarter. Loomis Sayles & Co. L P now owns 5,581,576 shares of the company’s stock valued at $675,427,000 after acquiring an additional 78,483 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Novartis by 4.7% during the third quarter. Envestnet Asset Management Inc. now owns 1,819,260 shares of the company’s stock valued at $233,302,000 after purchasing an additional 82,369 shares in the last quarter. State Street Corp lifted its stake in Novartis by 0.8% during the second quarter. State Street Corp now owns 1,597,830 shares of the company’s stock worth $195,552,000 after purchasing an additional 12,345 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in Novartis by 3.1% during the second quarter. Chevy Chase Trust Holdings LLC now owns 1,135,326 shares of the company’s stock worth $137,386,000 after purchasing an additional 33,954 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVS. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a report on Monday, October 27th. TD Cowen reiterated a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Bank of America raised shares of Novartis from a “neutral” rating to a “buy” rating in a report on Tuesday, November 25th. Barclays upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, January 6th. Finally, DZ Bank cut shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $119.75.

Novartis Trading Up 1.2%

NYSE NVS opened at $163.09 on Friday. The firm has a market capitalization of $344.52 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50. The business’s 50-day moving average price is $143.51 and its two-hundred day moving average price is $132.30. The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.60. Novartis AG has a 12 month low of $97.71 and a 12 month high of $163.42.

Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, February 4th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. Novartis had a net margin of 25.65% and a return on equity of 40.53%. The firm had revenue of $524.00 million during the quarter, compared to analyst estimates of $13.85 billion. During the same quarter last year, the business earned $1.98 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The company also recently declared an annual dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 11th will be paid a dividend of $4.773 per share. This represents a yield of 312.0%. The ex-dividend date of this dividend is Wednesday, March 11th. Novartis’s dividend payout ratio is 36.31%.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.