Welch & Forbes LLC Trims Holdings in Novartis AG (NYSE:NVS)

Welch & Forbes LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 70,044 shares of the company’s stock after selling 643 shares during the period. Welch & Forbes LLC’s holdings in Novartis were worth $7,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC grew its position in shares of Novartis by 157.9% in the fourth quarter. Apollon Wealth Management LLC now owns 13,050 shares of the company’s stock valued at $1,318,000 after purchasing an additional 7,990 shares during the period. Lincoln National Corp grew its holdings in Novartis by 20.6% in the 4th quarter. Lincoln National Corp now owns 10,826 shares of the company’s stock valued at $1,093,000 after buying an additional 1,846 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Novartis during the 4th quarter valued at about $217,000. Summit Trail Advisors LLC increased its stake in shares of Novartis by 18.8% during the 4th quarter. Summit Trail Advisors LLC now owns 4,323 shares of the company’s stock valued at $436,000 after acquiring an additional 685 shares during the last quarter. Finally, Connecticut Wealth Management LLC boosted its position in shares of Novartis by 6.4% in the fourth quarter. Connecticut Wealth Management LLC now owns 2,522 shares of the company’s stock worth $255,000 after acquiring an additional 151 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Up 1.4 %

Shares of NYSE:NVS traded up $1.34 during trading on Tuesday, reaching $99.07. 1,158,976 shares of the stock were exchanged, compared to its average volume of 1,551,103. The firm’s 50-day moving average price is $97.16 and its 200 day moving average price is $99.05. The firm has a market cap of $202.50 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90.

Novartis Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 8th were paid a dividend of $3.7772 per share. This is an increase 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%.

Analyst Upgrades and Downgrades

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

About Novartis

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.