Naviter Wealth LLC Trims Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Naviter Wealth LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,658 shares of the company’s stock after selling 931 shares during the quarter. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $5,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Marco Investment Management LLC boosted its holdings in Novo Nordisk A/S by 1.5% in the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after purchasing an additional 100 shares during the period. Carr Financial Group Corp boosted its holdings in Novo Nordisk A/S by 5.1% in the 3rd quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after purchasing an additional 101 shares during the period. Menard Financial Group LLC boosted its holdings in Novo Nordisk A/S by 0.8% in the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after purchasing an additional 102 shares during the period. Optimist Retirement Group LLC boosted its holdings in Novo Nordisk A/S by 4.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after purchasing an additional 112 shares during the period. Finally, Financial Counselors Inc. boosted its holdings in Novo Nordisk A/S by 1.1% in the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after purchasing an additional 115 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $87.19 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $391.25 billion, a PE ratio of 26.50, a P/E/G ratio of 0.90 and a beta of 0.42. The firm has a fifty day simple moving average of $84.91 and a two-hundred day simple moving average of $105.29. Novo Nordisk A/S has a twelve month low of $77.82 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 47.72%.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.25.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.