HighTower Advisors LLC Has $23.15 Million Stake in Novo Nordisk A/S $NVO

Key Points

• HighTower Advisors LLC reduced its holdings in Novo Nordisk A/S by 30.3%, selling 144,878 shares, and now owns 333,366 shares valued at approximately $23.15 million.
• Novo Nordisk A/S recently posted earnings of $0.97 per share, exceeding analyst expectations, and reported a revenue of $11.69 billion for the quarter.
• The company announced a semi-annual dividend of $0.4119, with a yield of 240.0%, to be paid to shareholders on August 26th.

HighTower Advisors LLC decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 333,366 shares of the company's stock after selling 144,878 shares during the quarter. HighTower Advisors LLC's holdings in Novo Nordisk A/S were worth $23,149,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dillon & Associates Inc. boosted its position in shares of Novo Nordisk A/S by 2.7% during the 1st quarter. Dillon & Associates Inc. now owns 295,114 shares of the company's stock valued at $20,363,000 after acquiring an additional 7,638 shares in the last quarter. Todd Asset Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $2,854,000. SouthState Corp raised its stake in shares of Novo Nordisk A/S by 1.5% in the first quarter. SouthState Corp now owns 49,986 shares of the company's stock worth $3,471,000 after acquiring an additional 735 shares during the last quarter. Nuveen LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $370,272,000. Finally, Aigen Investment Management LP raised its stake in shares of Novo Nordisk A/S by 302.6% in the first quarter. Aigen Investment Management LP now owns 34,284 shares of the company's stock worth $2,381,000 after acquiring an additional 25,769 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NVO shares. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a research note on Wednesday, August 13th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Up 0.5%

Shares of Novo Nordisk A/S stock traded up $0.2860 on Tuesday, hitting $54.0360. The company had a trading volume of 13,404,924 shares, compared to its average volume of 11,609,218. The firm has a market capitalization of $241.27 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.80 and a beta of 0.63. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74. 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 stock has a 50-day moving average of $64.52 and a 200-day moving average of $70.02.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Research 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 announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 45.05%.

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.