NewEdge Wealth LLC Sells 6,769 Shares of Novo Nordisk A/S (NYSE:NVO)

NewEdge Wealth LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,774 shares of the company's stock after selling 6,769 shares during the quarter. NewEdge Wealth LLC's holdings in Novo Nordisk A/S were worth $3,507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in Novo Nordisk A/S during the third quarter worth approximately $42,000. Albion Financial Group UT grew its position in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company's stock worth $44,000 after buying an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after buying an additional 243 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 1.9 %

NYSE:NVO traded down $1.72 during mid-day trading on Tuesday, reaching $87.65. The stock had a trading volume of 4,057,528 shares, compared to its average volume of 8,927,001. The stock has a market cap of $393.34 billion, a P/E ratio of 26.68, a PEG ratio of 0.90 and a beta of 0.45. The business's 50 day moving average is $84.84 and its 200 day moving average is $106.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several research reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.25.

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.