Envestnet Portfolio Solutions Inc. Has $3.61 Million Position in Novartis AG (NYSE:NVS)

Envestnet Portfolio Solutions Inc. increased its position in shares of Novartis AG (NYSE:NVS) by 12.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 37,063 shares of the company’s stock after buying an additional 4,091 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Novartis were worth $3,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Legacy Investment Solutions LLC bought a new stake in Novartis during the 3rd quarter worth about $28,000. Human Investing LLC bought a new stake in Novartis during the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA acquired a new position in Novartis during the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC bought a new position in Novartis in the fourth quarter valued at approximately $47,000. Finally, Clearstead Trust LLC bought a new position in Novartis in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.6 %

Novartis stock opened at $111.51 on Thursday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The stock has a market cap of $227.92 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.53. The company’s 50-day moving average price is $106.14 and its two-hundred day moving average price is $107.50. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. As a group, analysts expect that Novartis AG will post 8.45 EPS for the current year.

Novartis Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were given a $3.8695 dividend. The ex-dividend date was Wednesday, March 12th. Novartis’s payout ratio is presently 42.69%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVS shares. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating for the company. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Finally, UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis 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.