Novartis A G (NVS) Holder Envestnet Asset Management Lifted Stake; Old Republic International Decreased Glaxosmithkline Adr (GSK) Stake by $2.40 Million as Share Value Rose

January 14, 2018 - By Richard Conner

Old Republic International Corp decreased its stake in Glaxosmithkline Adr (GSK) by 4.54% based on its latest 2017Q3 regulatory filing with the SEC. Old Republic International Corp sold 60,000 shares as the company’s stock rose 5.47% with the market. The institutional investor held 1.26M shares of the major pharmaceuticals company at the end of 2017Q3, valued at $51.18 million, down from 1.32 million at the end of the previous reported quarter. Old Republic International Corp who had been investing in Glaxosmithkline Adr for a number of months, seems to be less bullish one the $87.55 billion market cap company. The stock increased 1.79% or $0.66 during the last trading session, reaching $37.5. About 5.00 million shares traded. GlaxoSmithKline plc (NYSE:GSK) has risen 4.26% since January 14, 2017 and is uptrending. It has underperformed by 12.44% the S&P500.

Envestnet Asset Management Inc increased its stake in Novartis A G (NVS) by 3.28% based on its latest 2017Q3 regulatory filing with the SEC. Envestnet Asset Management Inc bought 19,704 shares as the company’s stock rose 4.17% with the market. The institutional investor held 621,146 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $53.33 million, up from 601,442 at the end of the previous reported quarter. Envestnet Asset Management Inc who had been investing in Novartis A G for a number of months, seems to be bullish on the $204.08B market cap company. The stock increased 1.14% or $0.98 during the last trading session, reaching $86.65. About 1.02 million shares traded. Novartis AG (NYSE:NVS) has risen 7.67% since January 14, 2017 and is uptrending. It has underperformed by 9.03% the S&P500.

Envestnet Asset Management Inc, which manages about $60.39B and $41.79 billion US Long portfolio, decreased its stake in Starbucks Corp (NASDAQ:SBUX) by 58,891 shares to 861,052 shares, valued at $46.25 million in 2017Q3, according to the filing. It also reduced its holding in Foot Locker Inc (NYSE:FL) by 26,862 shares in the quarter, leaving it with 47,708 shares, and cut its stake in Cisco Sys Inc (NASDAQ:CSCO).

Among 16 analysts covering Novartis Ag (NYSE:NVS), 5 have Buy rating, 4 Sell and 7 Hold. Therefore 31% are positive. Novartis Ag had 34 analyst reports since July 28, 2015 according to SRatingsIntel. Leerink Swann maintained the shares of NVS in report on Thursday, June 22 with “Hold” rating. The rating was maintained by J P Morgan Chase Co with “Neutral” on Friday, June 16. The firm has “Underperform” rating given on Wednesday, October 28 by Mainfirst. As per Wednesday, March 23, the company rating was downgraded by Leerink Swann. The rating was maintained by JP Morgan on Friday, March 24 with “Neutral”. The firm earned “Neutral” rating on Thursday, March 23 by Goldman Sachs. Cowen & Co maintained the stock with “Hold” rating in Wednesday, August 9 report. Citigroup downgraded the stock to “Neutral” rating in Tuesday, March 29 report. On Wednesday, July 26 the stock rating was upgraded by Morgan Stanley to “Overweight”. The stock has “Market Perform” rating by Cowen & Co on Wednesday, April 5.

Analysts await GlaxoSmithKline plc (NYSE:GSK) to report earnings on February, 14. They expect $0.64 EPS, down 1.54% or $0.01 from last year’s $0.65 per share. GSK’s profit will be $1.49B for 14.65 P/E if the $0.64 EPS becomes a reality. After $0.85 actual EPS reported by GlaxoSmithKline plc for the previous quarter, Wall Street now forecasts -24.71% negative EPS growth.

Old Republic International Corp, which manages about $3.02B US Long portfolio, upped its stake in General Mills Inc (NYSE:GIS) by 50,000 shares to 516,700 shares, valued at $26.74 million in 2017Q3, according to the filing. It also increased its holding in Qualcomm Inc (NASDAQ:QCOM) by 143,000 shares in the quarter, for a total of 789,000 shares, and has risen its stake in Grainger Ww Inc (NYSE:GWW).

Among 17 analysts covering GlaxoSmithKline (NYSE:GSK), 7 have Buy rating, 1 Sell and 9 Hold. Therefore 41% are positive. GlaxoSmithKline had 26 analyst reports since September 8, 2015 according to SRatingsIntel. The company was initiated on Friday, September 23 by Piperjaffray. The rating was maintained by J P Morgan Chase Co with “Neutral” on Friday, June 16. As per Monday, October 12, the company rating was upgraded by JP Morgan. The firm has “Buy” rating given on Friday, May 26 by Berenberg. As per Monday, November 27, the company rating was upgraded by UBS. Investec initiated GlaxoSmithKline plc (NYSE:GSK) on Thursday, October 20 with “Buy” rating. The firm has “Neutral” rating by BNP Paribas given on Tuesday, September 15. The stock of GlaxoSmithKline plc (NYSE:GSK) has “Neutral” rating given on Wednesday, July 5 by Citigroup. As per Wednesday, April 5, the company rating was upgraded by BNP Paribas. On Tuesday, October 20 the stock rating was upgraded by Credit Suisse to “Neutral”.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>