Gerber Kawasaki Wealth & Investment Management Sells 18,218 Shares of Novo Nordisk A/S $NVO

Key Points

• Gerber Kawasaki Wealth & Investment Management reduced its holdings in Novo Nordisk A/S by 21.9%, selling 18,218 shares and now owns 65,093 shares valued at approximately $4.52 million.
• The company's recent earnings report showed an EPS of $0.97, exceeding estimates, while the revenue was reported at $11.69 billion.
• Wall Street analysts have mostly rated Novo Nordisk A/S as a "Hold", with a current consensus price target of $81.00.

Gerber Kawasaki Wealth & Investment Management decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 21.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,093 shares of the company's stock after selling 18,218 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Novo Nordisk A/S were worth $4,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paces Ferry Wealth Advisors LLC raised its holdings in Novo Nordisk A/S by 20.3% in the 1st quarter. Paces Ferry Wealth Advisors LLC now owns 3,791 shares of the company's stock worth $263,000 after acquiring an additional 641 shares during the last quarter. Zuckerman Investment Group LLC raised its holdings in Novo Nordisk A/S by 28.6% in the 1st quarter. Zuckerman Investment Group LLC now owns 7,652 shares of the company's stock worth $531,000 after acquiring an additional 1,700 shares during the last quarter. FORA Capital LLC raised its holdings in Novo Nordisk A/S by 38.9% in the 1st quarter. FORA Capital LLC now owns 49,673 shares of the company's stock worth $3,449,000 after acquiring an additional 13,917 shares during the last quarter. Potomac Fund Management Inc. ADV grew its position in Novo Nordisk A/S by 17.1% in the 1st quarter. Potomac Fund Management Inc. ADV now owns 16,816 shares of the company's stock worth $1,168,000 after purchasing an additional 2,456 shares during the period. Finally, WealthTrust Axiom LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $630,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 2.1%

Shares of NVO stock opened at $56.49 on Thursday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $139.74. The firm has a fifty day moving average price of $61.43 and a 200-day moving average price of $68.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market cap of $252.21 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.92 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Finally, TD Cowen decreased their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.

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