Arkadios Wealth Advisors Sells 283 Shares of Novo Nordisk A/S (NYSE:NVO)

Arkadios Wealth Advisors trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,762 shares of the company’s stock after selling 283 shares during the period. Arkadios Wealth Advisors’ holdings in Novo Nordisk A/S were worth $2,234,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. OneAscent Financial Services LLC lifted its position in shares of Novo Nordisk A/S by 11.9% in the first quarter. OneAscent Financial Services LLC now owns 3,779 shares of the company’s stock valued at $487,000 after acquiring an additional 401 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $849,000. Symphony Financial Ltd. Co. bought a new position in Novo Nordisk A/S in the 1st quarter worth approximately $242,000. Founders Financial Securities LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $217,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $839,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $113.38 on Friday. The firm has a fifty day simple moving average of $126.61 and a two-hundred day simple moving average of $131.32. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $508.80 billion, a P/E ratio of 39.10, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

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.