Goldstone Financial Group LLC Purchases 832 Shares of Novartis AG (NYSE:NVS)

Goldstone Financial Group LLC increased its position in shares of Novartis AG (NYSE:NVS) by 19.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,146 shares of the company’s stock after buying an additional 832 shares during the period. Goldstone Financial Group LLC’s holdings in Novartis were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of Novartis during the 3rd quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new position in Novartis in the second quarter valued at approximately $30,000. Fortitude Family Office LLC boosted its holdings in shares of Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Novartis during the 3rd quarter worth approximately $43,000. Finally, Beaird Harris Wealth Management LLC lifted its position in shares of Novartis by 280.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after acquiring an additional 519 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE NVS opened at $97.73 on Friday. The stock has a market cap of $199.76 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm’s 50-day simple moving average is $100.97 and its 200 day simple moving average is $109.12.

Novartis (NYSE:NVS) last announced its earnings results 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. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. As a group, research analysts anticipate that Novartis AG will post 7.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of a number of research reports. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.