First American Trust FSB Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Key Points

• First American Trust FSB reduced its stake in Novo Nordisk A/S by 50.9% in Q1, now holding 21,403 shares, valued at approximately $1.486 million.
• Analysts have recently downgraded Novo Nordisk A/S, with ratings now reflecting a consensus "Hold" and a price target averaging $93.67.
• The company reported earnings of $0.97 per share for the last quarter, surpassing estimates, and declared a dividend of $0.4119 per share.

First American Trust FSB lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,403 shares of the company's stock after selling 22,145 shares during the quarter. First American Trust FSB's holdings in Novo Nordisk A/S were worth $1,486,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL lifted its stake in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S in the fourth quarter worth approximately $29,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded up $2.30 during trading on Friday, reaching $51.06. The company's stock had a trading volume of 23,312,357 shares, compared to its average volume of 24,770,900. The company has a 50-day moving average price of $67.14 and a two-hundred day moving average price of $71.47. The firm has a market cap of $227.98 billion, a PE ratio of 14.03, a P/E/G ratio of 1.75 and a beta of 0.63. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $77.51 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is 45.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.67.

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.