Matthew Goff Investment Advisor LLC Acquires 1,827 Shares of Novartis AG (NYSE:NVS)

Matthew Goff Investment Advisor LLC lifted its position in Novartis AG (NYSE:NVS) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,361 shares of the company’s stock after buying an additional 1,827 shares during the quarter. Novartis makes up approximately 1.8% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 18th biggest holding. Matthew Goff Investment Advisor LLC’s holdings in Novartis were worth $9,962,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Novartis by 35.6% during the fourth quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock valued at $41,176,000 after acquiring an additional 111,066 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Novartis by 129.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 98,412 shares of the company’s stock worth $9,560,000 after purchasing an additional 55,581 shares during the period. Altrius Capital Management Inc grew its position in shares of Novartis by 4.5% in the 4th quarter. Altrius Capital Management Inc now owns 77,783 shares of the company’s stock worth $7,569,000 after buying an additional 3,345 shares during the period. Proficio Capital Partners LLC bought a new position in Novartis in the 4th quarter worth about $225,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Novartis by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 165,442 shares of the company’s stock valued at $16,099,000 after acquiring an additional 8,186 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 0.4%

Shares of NYSE NVS opened at $115.97 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.61 and a current ratio of 0.79. The business’s 50 day moving average price is $112.65 and its 200-day moving average price is $107.33. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $120.92. The company has a market cap of $244.98 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.68 and a beta of 0.59.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.16. The business had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Novartis had a return on equity of 39.44% and a net margin of 24.70%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 EPS. On average, sell-side analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Ratings Changes

Separately, BNP Paribas raised Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus target price 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.