AAFMAA Wealth Management & Trust LLC Reduces Position in Novo Nordisk A/S $NVO

Key Points

• AAFMAA Wealth Management & Trust LLC has reduced its position in Novo Nordisk A/S by 30.4%, now holding 14,929 shares valued at $1,030,000 following a sale of 6,523 shares in the second quarter.
• Several hedge funds, including Kingstone Capital Partners, have significantly increased their holdings in Novo Nordisk A/S, with Kingstone boosting its stake by over 301,000%.
• Analyst ratings for Novo Nordisk A/S have varied, with Rothschild Redb upgrading the stock to a "strong-buy," while others have downgraded it, yielding a current consensus rating of "Hold."

AAFMAA Wealth Management & Trust LLC decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 30.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,929 shares of the company's stock after selling 6,523 shares during the period. AAFMAA Wealth Management & Trust LLC's holdings in Novo Nordisk A/S were worth $1,030,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVO. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $370,272,000. Amundi boosted its holdings in shares of Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company's stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Novo Nordisk A/S by 118.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after purchasing an additional 864,579 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NVO shares. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $56.07 on Friday. The stock's 50-day moving average is $56.20 and its 200-day moving average is $64.68. The company has a market cap of $250.35 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $125.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is currently 22.53%.

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.

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