SouthState Corp Sells 1,474 Shares of Novo Nordisk A/S (NYSE:NVO)

SouthState Corp lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,251 shares of the company’s stock after selling 1,474 shares during the period. SouthState Corp’s holdings in Novo Nordisk A/S were worth $4,237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GWN Securities Inc. acquired a new position in Novo Nordisk A/S during the fourth quarter worth approximately $268,000. Glenview Trust co increased its position in Novo Nordisk A/S by 55.8% during the fourth quarter. Glenview Trust co now owns 20,566 shares of the company’s stock worth $1,769,000 after buying an additional 7,369 shares during the last quarter. Patten & Patten Inc. TN increased its position in Novo Nordisk A/S by 480.5% during the fourth quarter. Patten & Patten Inc. TN now owns 21,855 shares of the company’s stock worth $1,880,000 after buying an additional 18,090 shares during the last quarter. Hutchinson Capital Management CA increased its position in Novo Nordisk A/S by 0.3% during the fourth quarter. Hutchinson Capital Management CA now owns 175,651 shares of the company’s stock worth $15,109,000 after buying an additional 563 shares during the last quarter. Finally, Avalon Trust Co increased its position in Novo Nordisk A/S by 29.0% during the fourth quarter. Avalon Trust Co now owns 3,061 shares of the company’s stock worth $263,000 after buying an additional 689 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Up 1.8 %

Shares of NYSE:NVO opened at $77.22 on Monday. The company has a market capitalization of $346.54 billion, a P/E ratio of 23.47, a P/E/G ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $73.80 and a 1 year high of $148.15. 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 business’s 50 day simple moving average is $83.95 and its 200 day simple moving average is $102.79.

Novo Nordisk A/S (NYSE:NVO) last released 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 return on equity of 84.68% and a net margin of 34.81%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

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.