Foresight Global Investors Inc. Acquires 34,475 Shares of Novartis AG (NYSE:NVS)

Foresight Global Investors Inc. boosted its holdings in Novartis AG (NYSE:NVS) by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,975 shares of the company’s stock after buying an additional 34,475 shares during the period. Novartis makes up about 7.6% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 7th largest position. Foresight Global Investors Inc.’s holdings in Novartis were worth $13,326,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Operose Advisors LLC bought a new stake in shares of Novartis in the 3rd quarter worth approximately $28,000. Planned Solutions Inc. acquired a new stake in Novartis during the fourth quarter worth $31,000. AdvisorNet Financial Inc increased its holdings in Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after buying an additional 288 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Novartis during the 3rd quarter worth about $39,000. Finally, Adirondack Trust Co. boosted its position in shares of Novartis by 69.1% during the 3rd quarter. Adirondack Trust Co. now owns 389 shares of the company’s stock valued at $40,000 after acquiring an additional 159 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Price Performance

NYSE NVS traded up $0.61 on Thursday, hitting $100.21. 1,384,390 shares of the company were exchanged, compared to its average volume of 1,543,380. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The company has a market cap of $204.83 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.56 and a beta of 0.53. The firm has a 50 day moving average of $97.09 and a two-hundred day moving average of $99.07. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78.

Novartis Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. 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 objective on the stock.

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.