Cullen Capital Management LLC lifted its stake in shares of Novartis AG (NYSE:NVS) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 887,991 shares of the company’s stock after buying an additional 100,756 shares during the period. Novartis AG comprises approximately 2.6% of Cullen Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Cullen Capital Management LLC’s holdings in Novartis AG were worth $74,121,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. increased its holdings in shares of Novartis AG by 5.6% during the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after buying an additional 285 shares in the last quarter. GFS Advisors LLC increased its holdings in shares of Novartis AG by 6.5% during the second quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after buying an additional 1,300 shares in the last quarter. Union Bankshares Corp increased its holdings in shares of Novartis AG by 0.3% during the second quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after buying an additional 99 shares in the last quarter. Mechanics Bank Trust Department acquired a new position in shares of Novartis AG during the second quarter worth $389,000. Finally, ProVise Management Group LLC increased its holdings in shares of Novartis AG by 12.2% during the second quarter. ProVise Management Group LLC now owns 85,041 shares of the company’s stock worth $7,099,000 after buying an additional 9,227 shares in the last quarter. Institutional investors own 10.92% of the company’s stock.
Several research analysts have recently issued reports on NVS shares. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Barclays PLC upgraded Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $84.13.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Novartis AG’s quarterly revenue was down 1.8% on a year-over-year basis.
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Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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