Addison Advisors LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Addison Advisors LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 15.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,283 shares of the company’s stock after selling 424 shares during the period. Addison Advisors LLC’s holdings in Novo Nordisk A/S were worth $196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Autumn Glory Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 39.9% in the 3rd quarter. Autumn Glory Partners LLC now owns 22,671 shares of the company’s stock valued at $2,699,000 after buying an additional 6,463 shares in the last quarter. Old Port Advisors boosted its stake in Novo Nordisk A/S by 4.8% in the third quarter. Old Port Advisors now owns 5,094 shares of the company’s stock valued at $607,000 after acquiring an additional 233 shares in the last quarter. Traynor Capital Management Inc. grew its holdings in shares of Novo Nordisk A/S by 3.4% during the third quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after purchasing an additional 10,019 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Novo Nordisk A/S by 5.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,000 shares of the company’s stock worth $2,500,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 107.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 20,313 shares of the company’s stock valued at $2,351,000 after purchasing an additional 10,500 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NVO shares. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets reduced their target price 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $90.94 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm has a market cap of $408.07 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The firm’s fifty day moving average price is $85.32 and its 200 day moving average price is $107.42. Novo Nordisk A/S has a 1-year low of $77.82 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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%. On average, 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 firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is currently 47.72%.

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.