Teachers Retirement System of The State of Kentucky Raises Stock Position in Novartis AG (NYSE:NVS)

Teachers Retirement System of The State of Kentucky raised its position in Novartis AG (NYSE:NVS - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 246,250 shares of the company's stock after purchasing an additional 16,450 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Novartis were worth $23,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Seaview Investment Managers LLC boosted its position in Novartis by 17.5% during the fourth quarter. Seaview Investment Managers LLC now owns 97,331 shares of the company's stock worth $9,471,000 after acquiring an additional 14,518 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Novartis by 15.0% during the 4th quarter. MML Investors Services LLC now owns 148,532 shares of the company's stock worth $14,454,000 after purchasing an additional 19,331 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Novartis by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,183,855 shares of the company's stock valued at $796,372,000 after purchasing an additional 90,823 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Novartis by 9.7% in the fourth quarter. First Trust Advisors LP now owns 562,487 shares of the company's stock valued at $54,736,000 after purchasing an additional 49,752 shares during the last quarter. Finally, Freedom Investment Management Inc. lifted its position in Novartis by 4.8% during the fourth quarter. Freedom Investment Management Inc. now owns 7,461 shares of the company's stock worth $726,000 after buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Up 1.0 %

NVS traded up $1.06 during trading hours on Friday, hitting $112.23. 2,213,600 shares of the company's stock were exchanged, compared to its average volume of 2,311,787. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 12-month low of $96.06 and a 12-month high of $120.92. The firm has a market cap of $237.08 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. The firm has a 50 day moving average of $109.57 and a 200 day moving average of $106.24.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were issued a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's dividend payout ratio (DPR) is 44.05%.

Analyst Ratings Changes

A number of analysts have issued reports on NVS shares. Barclays reaffirmed an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. BNP Paribas upgraded shares of Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Novartis presently has an average rating of "Hold" and an average price target of $123.38.

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.