Community Bank N.A. Has $164,000 Holdings in Novartis AG (NYSE:NVS)

Community Bank N.A. lessened its holdings in Novartis AG (NYSE:NVS) by 38.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,628 shares of the company’s stock after selling 1,000 shares during the quarter. Community Bank N.A.’s holdings in Novartis were worth $164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC lifted its position in Novartis by 21.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after buying an additional 1,050 shares in the last quarter. Syon Capital LLC acquired a new position in Novartis during the 3rd quarter valued at about $6,568,000. Prime Capital Investment Advisors LLC lifted its position in Novartis by 368.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock valued at $2,045,000 after purchasing an additional 15,927 shares during the period. Cerity Partners LLC lifted its position in Novartis by 30.8% during the 4th quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock valued at $25,021,000 after purchasing an additional 58,395 shares during the period. Finally, Mather Group LLC. lifted its position in Novartis by 8.1% during the 3rd quarter. Mather Group LLC. now owns 7,763 shares of the company’s stock valued at $791,000 after purchasing an additional 580 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.6 %

Shares of NYSE:NVS traded up $0.62 during midday trading on Thursday, hitting $98.97. The stock had a trading volume of 1,613,229 shares, compared to its average volume of 1,552,049. 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 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The business’s 50-day simple moving average is $97.93 and its 200-day simple moving average is $98.99. The company has a market cap of $202.29 billion, a P/E ratio of 13.27, a PEG ratio of 1.58 and a beta of 0.54.

Novartis (NYSE:NVS) last announced its quarterly 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 31.12%. The business had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the business earned $1.51 EPS. On average, sell-side analysts forecast that Novartis AG will post 7.15 earnings per share for the current fiscal year.

Novartis Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were issued a dividend of $3.7772 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.1%. This is an increase from Novartis’s previous annual dividend of $3.47. Novartis’s dividend payout ratio (DPR) is currently 32.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVS shares. Morgan Stanley started coverage on shares of Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 price target on the stock. BMO Capital Markets increased their target price on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Novartis currently has an average rating of “Moderate Buy” and an average target price of $115.00.

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.