SeaCrest Wealth Management LLC Sells 4,456 Shares of Novo Nordisk A/S $NVO

Key Points

• SeaCrest Wealth Management LLC has reduced its holdings in Novo Nordisk A/S by 39.7%, selling 4,456 shares during the second quarter, leaving it with 6,782 shares valued at approximately $468,000.
• A number of analysts have recently changed their ratings on Novo Nordisk shares, with Zacks downgrading it to a "strong sell", while Rothschild upgraded it to a "buy", indicating mixed sentiment among market analysts.
• Recently, Novo Nordisk A/S announced a semi-annual dividend of $0.4119 per share, reflecting a dividend yield of 240.0% and a payout ratio of 22.53%.

SeaCrest Wealth Management LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,782 shares of the company's stock after selling 4,456 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Novo Nordisk A/S were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Hawaiian Bank increased its stake in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its stake in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. increased its stake in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after acquiring an additional 166 shares during the period. Finally, 180 Wealth Advisors LLC grew its stake in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after acquiring an additional 173 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVO shares. Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a research note on Thursday, July 31st. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Finally, BNP Paribas Exane upgraded 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $61.45 on Monday. 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 fifty day moving average price of $56.88 and a 200 day moving average price of $65.10. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $129.48. The firm has a market cap of $274.37 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping 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 analyst estimates of $77.51 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.