Novo Nordisk A/S (NYSE:NVO) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,853 shares of the company's stock after selling 7,439 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Novo Nordisk A/S were worth $7,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVO. Center for Financial Planning Inc. grew its holdings in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth about $28,000. Albion Financial Group UT grew its holdings in shares of Novo Nordisk A/S by 121.4% during 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 in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock worth $46,000 after buying an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $46,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded up $1.33 on Friday, reaching $77.22. 6,503,447 shares of the company's stock were exchanged, compared to its average volume of 5,391,641. The firm has a market capitalization of $346.54 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $73.80 and a fifty-two week high of $148.15. The business's 50-day moving average is $83.95 and its two-hundred day moving average is $103.24. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Analysts Set New Price Targets

NVO has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Thursday. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.