Goldstone Financial Group LLC Takes $496,000 Position in Novartis AG (NYSE:NVS)

Goldstone Financial Group LLC purchased a new stake in shares of Novartis AG (NYSE:NVS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,314 shares of the company’s stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NVS. Clearstead Trust LLC raised its holdings in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in shares of Novartis in the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Novartis during the second quarter worth about $30,000. Finally, Richardson Financial Services Inc. acquired a new position in Novartis in the second quarter worth about $30,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 0.6 %

NYSE:NVS opened at $109.89 on Thursday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The business has a fifty day moving average of $116.13 and a 200-day moving average of $109.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock has a market cap of $224.62 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.65 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period last year, the firm posted $1.74 earnings per share. Equities analysts predict that Novartis AG will post 7.53 earnings per share for the current year.

Analysts Set New Price Targets

NVS has been the subject of several research reports. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.50.

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.