NewEdge Wealth LLC Sells 6,769 Shares of Novo Nordisk A/S (NYSE:NVO)

NewEdge Wealth LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,774 shares of the company’s stock after selling 6,769 shares during the period. NewEdge Wealth LLC’s holdings in Novo Nordisk A/S were worth $3,507,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Center for Financial Planning Inc. grew its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter valued at about $42,000. Dunhill Financial LLC grew its holdings in Novo Nordisk A/S by 196.8% during the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after purchasing an additional 311 shares during the last quarter. Finally, Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $90.68 on Friday. The company has a 50 day moving average price of $84.82 and a 200-day moving average price of $106.90. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15. The stock has a market capitalization of $406.91 billion, a PE ratio of 27.56, a PEG ratio of 0.90 and a beta of 0.45. 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 quarterly 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%. 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 declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Novo Nordisk A/S Company 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.