Bank of America Corp DE Grows Position in Novo Nordisk A/S (NYSE:NVO)

Bank of America Corp DE boosted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,492,384 shares of the company's stock after acquiring an additional 1,165,955 shares during the period. Bank of America Corp DE owned 0.35% of Novo Nordisk A/S worth $1,332,655,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. GQG Partners LLC increased its stake in shares of Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after buying an additional 5,556,460 shares during the period. Raymond James Financial Inc. purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $404,910,000. Loomis Sayles & Co. L P raised its stake in shares of Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares in the last quarter. Clearbridge Investments LLC raised its position in Novo Nordisk A/S by 59.8% in the fourth quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock worth $368,451,000 after acquiring an additional 1,602,549 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its stake in shares of Novo Nordisk A/S by 23.6% in the fourth quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company's stock valued at $459,416,000 after purchasing an additional 1,021,498 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 4.0 %

Shares of NYSE NVO traded down $2.80 during midday trading on Tuesday, reaching $66.32. 10,488,030 shares of the stock were exchanged, compared to its average volume of 6,255,246. The stock has a 50 day moving average price of $70.60 and a 200-day moving average price of $87.08. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $297.63 billion, a P/E ratio of 20.16, a P/E/G ratio of 0.90 and a beta of 0.65. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were issued a $0.7874 dividend. The ex-dividend date was Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S's payout ratio is 49.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. 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. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.00.

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.