Resonant Capital Advisors LLC Makes New $267,000 Investment in Novartis AG (NYSE:NVS)

Resonant Capital Advisors LLC bought a new position in shares of Novartis AG (NYSE:NVS) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,817 shares of the company’s stock, valued at approximately $267,000.

A number of other institutional investors also recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Novartis by 10.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,988 shares of the company’s stock valued at $6,110,000 after buying an additional 6,523 shares during the last quarter. Logan Capital Management Inc. raised its stake in shares of Novartis by 3.4% in the fourth quarter. Logan Capital Management Inc. now owns 17,465 shares of the company’s stock worth $1,654,000 after purchasing an additional 581 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Novartis by 6.9% during the fourth quarter. Advisors Asset Management Inc. now owns 118,678 shares of the company’s stock worth $11,238,000 after purchasing an additional 7,695 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Novartis during the fourth quarter worth about $6,888,000. Finally, Cubist Systematic Strategies LLC boosted its position in Novartis by 417.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 25,369 shares of the company’s stock valued at $2,402,000 after buying an additional 20,465 shares during the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Several equities analysts recently weighed in on the stock. Guggenheim downgraded shares of Novartis from a “buy” rating to a “neutral” rating in a report on Tuesday, February 25th. Citigroup cut shares of Novartis from a “buy” rating to a “neutral” rating in a research note on Monday, February 17th. Finally, Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $93.34.

Shares of NVS stock traded up $2.85 on Thursday, hitting $79.74. The company had a trading volume of 2,677,631 shares, compared to its average volume of 2,806,302. The firm has a market cap of $168.58 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69. The company has a 50-day moving average price of $87.35 and a 200-day moving average price of $89.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.40. Novartis AG has a twelve month low of $69.18 and a twelve month high of $99.84.

Novartis (NYSE:NVS) last posted its earnings results on Wednesday, January 29th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $12.49 billion. Novartis had a return on equity of 23.39% and a net margin of 24.73%. Equities research analysts expect that Novartis AG will post 5.74 EPS for the current year.

The business also recently disclosed an annual dividend, which was paid on Thursday, March 12th. Shareholders of record on Wednesday, March 4th were given a $3.0425 dividend. This represents a yield of 2%. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a positive change from Novartis’s previous annual dividend of $2.86. Novartis’s dividend payout ratio is currently 38.36%.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

Featured Article: What does the Dogs of the Dow mean?

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.