Novo Nordisk A/S (NYSE:NVO) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has reduced its stake in Novo Nordisk A/S by 1.5%, now controlling approximately 11.2 million shares, which constitutes about 1.9% of their portfolio.
• Other institutional investors, including Bank of America and Nuveen Asset Management, have increased their holdings in Novo Nordisk, indicating a mix of investor sentiment.
• Despite recent sell-offs, analysts maintain a consensus rating of "Hold" for Novo Nordisk, with an average price target of $93.67.

Fayez Sarofim & Co decreased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,212,499 shares of the company's stock after selling 171,982 shares during the period. Novo Nordisk A/S comprises approximately 1.9% of Fayez Sarofim & Co's portfolio, making the stock its 16th largest position. Fayez Sarofim & Co owned 0.25% of Novo Nordisk A/S worth $778,596,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BIP Wealth LLC lifted its position in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. lifted its position in shares of Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares during the last quarter. Finally, LRI Investments LLC lifted its position in shares of Novo Nordisk A/S by 1.4% during the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $93.67.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded up $2.30 during midday trading on Friday, hitting $51.06. The company's stock had a trading volume of 23,312,357 shares, compared to its average volume of 23,928,642. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The firm's fifty day moving average price is $67.14 and its 200-day moving average price is $71.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm has a market cap of $227.98 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.54 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 22.53%.

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.