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

Cullen Capital Management LLC trimmed its holdings in Novartis AG (NYSE:NVS - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,156,619 shares of the company's stock after selling 95,349 shares during the quarter. Novartis accounts for approximately 2.4% of Cullen Capital Management LLC's investment portfolio, making the stock its 13th biggest holding. Cullen Capital Management LLC owned 0.11% of Novartis worth $209,861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Human Investing LLC purchased a new position in shares of Novartis during the 4th quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new position in Novartis in the fourth quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the 3rd quarter worth about $28,000. Kestra Investment Management LLC purchased a new stake in shares of Novartis during the 4th quarter worth about $47,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Novartis during the 4th quarter valued at about $51,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVS has been the subject of several research analyst reports. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Barclays reaffirmed an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. Morgan Stanley started coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an "underweight" rating for the company. UBS Group reiterated a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Novartis currently has an average rating of "Hold" and a consensus price target of $123.38.

Novartis Trading Down 2.2 %

NYSE NVS traded down $2.32 during trading hours on Thursday, reaching $101.53. The company had a trading volume of 1,713,348 shares, compared to its average volume of 2,295,112. The stock has a 50-day moving average of $108.95 and a 200 day moving average of $106.59. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a market capitalization of $207.53 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results 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%. As a group, research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's payout ratio is presently 42.69%.

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.