Godsey & Gibb Inc. Has $23.75 Million Position in Novartis AG $NVS

Godsey & Gibb Inc. lifted its stake in Novartis AG (NYSE:NVS) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,287 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Novartis makes up 2.2% of Godsey & Gibb Inc.’s portfolio, making the stock its 21st biggest holding. Godsey & Gibb Inc.’s holdings in Novartis were worth $23,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after purchasing an additional 2,666 shares during the last quarter. Rhumbline Advisers increased its position in shares of Novartis by 11.1% during the first quarter. Rhumbline Advisers now owns 38,600 shares of the company’s stock valued at $4,303,000 after purchasing an additional 3,846 shares during the period. Gateway Investment Advisers LLC acquired a new position in shares of Novartis in the 1st quarter valued at $295,000. Wedmont Private Capital boosted its holdings in Novartis by 2.4% during the first quarter. Wedmont Private Capital now owns 6,501 shares of the company’s stock valued at $699,000 after purchasing an additional 153 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in Novartis by 5.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 12,786 shares of the company’s stock valued at $1,425,000 after buying an additional 655 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $120.33.

Novartis Stock Performance

Shares of Novartis stock opened at $132.35 on Tuesday. The stock has a market cap of $279.58 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.83 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $123.90 and its 200 day moving average is $117.38.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period last year, the business posted $1.97 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current year.

About Novartis

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.