M&T Bank Corp Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

M&T Bank Corp lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 379,658 shares of the company’s stock after selling 10,691 shares during the quarter. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $32,658,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC increased its holdings in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares during the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after buying an additional 30,420 shares during the last quarter. Versant Capital Management Inc acquired a new position in Novo Nordisk A/S in the fourth quarter valued at $86,000. Finally, Talbot Financial LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at $4,066,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $90.81 on Thursday. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15. The company has a market capitalization of $407.51 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The firm has a 50-day simple moving average of $84.91 and a 200-day simple moving average of $105.74. 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 (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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. Investors of record on Monday, March 31st will be given a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 47.72%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVO. 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. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock 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.