Novartis AG (NYSE:NVS) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its stake in shares of Novartis AG (NYSE:NVS) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,156,619 shares of the company’s stock after selling 95,349 shares during the period. Novartis comprises about 2.4% of Cullen Capital Management LLC’s holdings, making the stock its 13th largest position. Cullen Capital Management LLC’s holdings in Novartis were worth $209,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Human Investing LLC bought a new stake in Novartis in the fourth quarter valued at $25,000. Union Bancaire Privee UBP SA bought a new stake in Novartis in the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Novartis during the 3rd quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in Novartis in the 4th quarter worth about $47,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Novartis in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 5.8 %

NYSE NVS opened at $105.79 on Friday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. 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’s 50 day simple moving average is $109.02 and its 200 day simple moving average is $107.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84.

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

Novartis Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVS. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley started coverage on Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.38.

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.