Advisors Asset Management Inc. Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Advisors Asset Management Inc. lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,239 shares of the company’s stock after selling 17,497 shares during the period. Advisors Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $6,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Center for Financial Planning Inc. increased its stake in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $28,000. Albion Financial Group UT raised its stake in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth $46,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.0 %

Shares of NYSE:NVO opened at $80.95 on Wednesday. The company has a market capitalization of $363.28 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $73.80 and a 12-month high of $148.15. The business has a 50-day moving average price of $83.81 and a 200 day moving average price of $101.98. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS 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%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders 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 a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is presently 47.72%.

Analysts Set New Price Targets

NVO has been the topic of several research reports. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Company Profile

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.