Crestwood Advisors Group LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Crestwood Advisors Group LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,461 shares of the company’s stock after selling 304 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Novo Nordisk A/S were worth $470,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. raised its holdings in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth about $42,000. Albion Financial Group UT raised its holdings in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in shares of Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after purchasing an additional 243 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO stock opened at $90.94 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 1 year low of $77.82 and a 1 year high of $148.15. The firm has a market cap of $408.07 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The stock has a 50-day simple moving average of $85.32 and a 200-day simple moving average of $107.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal 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 paid a dividend of $0.7874 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 47.72%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research reports. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S 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.