Cullen Capital Management LLC Has $253.74 Million Stock Position in Novartis AG $NVS

Cullen Capital Management LLC lowered its stake in shares of Novartis AG (NYSE:NVS) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,852 shares of the company’s stock after selling 11,832 shares during the quarter. Novartis comprises 2.9% of Cullen Capital Management LLC’s holdings, making the stock its 4th largest holding. Cullen Capital Management LLC owned 0.10% of Novartis worth $253,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new stake in shares of Novartis during the first quarter valued at about $25,000. GFG Capital LLC purchased a new stake in Novartis during the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new stake in Novartis during the second quarter valued at approximately $30,000. Barrett & Company Inc. acquired a new stake in Novartis in the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC grew its holdings in Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after purchasing an additional 105 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVS has been the subject of several analyst reports. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a report on Monday, October 27th. Cowen reiterated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. Cfra Research upgraded Novartis to a “hold” rating in a research note on Wednesday, October 29th. Cfra set a $126.00 price objective on shares of Novartis and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Stock Up 0.1%

Novartis stock opened at $132.50 on Monday. The business’s 50-day simple moving average is $129.41 and its two-hundred day simple moving average is $124.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88. The company has a market cap of $279.90 billion, a PE ratio of 18.10, a PEG ratio of 1.87 and a beta of 0.52. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $134.24.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The firm had revenue of $14.36 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.06 EPS. Equities analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

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.