Cullen Capital Management LLC Cuts Holdings in Novartis AG (NYSE:NVS)

Cullen Capital Management LLC lessened its position in shares of Novartis AG (NYSE:NVS) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,156,619 shares of the company’s stock after selling 95,349 shares during the period. Novartis makes up 2.4% of Cullen Capital Management LLC’s portfolio, making the stock its 13th biggest position. Cullen Capital Management LLC owned about 0.11% of Novartis worth $209,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Novartis during the 4th quarter worth about $88,339,000. Fisher Asset Management LLC increased its position in shares of Novartis by 17.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock worth $194,908,000 after acquiring an additional 296,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock valued at $51,554,000 after acquiring an additional 296,890 shares during the period. World Investment Advisors LLC acquired a new position in shares of Novartis during the 3rd quarter valued at $30,063,000. Finally, Proficio Capital Partners LLC purchased a new stake in Novartis during the 4th quarter worth $225,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NVS opened at $105.79 on Friday. The company has a market capitalization of $216.24 billion, a P/E ratio of 17.99, a PEG ratio of 1.70 and a beta of 0.56. The company has a 50-day moving average of $109.02 and a 200-day moving average of $107.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Analyst Upgrades and Downgrades

NVS has been the topic of several research reports. Morgan Stanley assumed coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Finally, Barclays reaffirmed an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.