New World Advisors LLC Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

New World Advisors LLC lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 2,136 shares of the company’s stock after selling 112 shares during the period. New World Advisors LLC’s holdings in Novo Nordisk A/S were worth $254,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVO. Independence Bank of Kentucky boosted its stake in Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after buying an additional 7,565 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after acquiring an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $1,624,000. Azzad Asset Management Inc. ADV increased its holdings in Novo Nordisk A/S by 55.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 41,107 shares of the company’s stock valued at $4,895,000 after purchasing an additional 14,731 shares during the last quarter. Finally, Arlington Partners LLC raised its position in Novo Nordisk A/S by 25.3% in the third quarter. Arlington Partners LLC now owns 29,412 shares of the company’s stock valued at $3,502,000 after purchasing an additional 5,935 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

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

Novo Nordisk A/S Stock Down 0.5 %

Novo Nordisk A/S stock traded down $0.54 during midday trading on Friday, reaching $113.38. The company’s stock had a trading volume of 4,564,363 shares, compared to its average volume of 4,288,053. The company has a market cap of $508.80 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.52 and a beta of 0.42. 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 business has a 50-day simple moving average of $126.61 and a 200-day simple moving average of $131.32. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, research 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

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.